Chardan Capital Issues Pessimistic Forecast for Century Therapeutics (NASDAQ:IPSC) Stock Price

Century Therapeutics (NASDAQ:IPSC) had its price target reduced by Chardan Capital from $11.00 to $7.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other brokerages have also recently issued reports on IPSC. Guggenheim cut their target price on shares of Century Therapeutics from $12.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, March 21st. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Century Therapeutics in a report on Wednesday, January 22nd. Finally, Piper Sandler lowered their price objective on shares of Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $5.00.

Century Therapeutics Stock Performance

IPSC stock opened at $0.55 on Monday. The firm has a market cap of $47.17 million, a P/E ratio of -0.30 and a beta of 1.75. The firm’s fifty day moving average is $0.73 and its 200 day moving average is $1.14. Century Therapeutics has a 52 week low of $0.52 and a 52 week high of $4.43.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Wednesday, March 19th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. The company had revenue of $4.18 million during the quarter, compared to analyst estimates of $0.67 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. As a group, analysts forecast that Century Therapeutics will post -1.61 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Century Therapeutics by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock valued at $1,656,000 after purchasing an additional 32,614 shares in the last quarter. Barclays PLC raised its stake in Century Therapeutics by 283.6% in the third quarter. Barclays PLC now owns 61,945 shares of the company’s stock worth $106,000 after buying an additional 45,797 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Century Therapeutics by 257.6% in the third quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company’s stock worth $123,000 after buying an additional 51,664 shares during the period. State Street Corp boosted its position in Century Therapeutics by 7.4% during the 3rd quarter. State Street Corp now owns 836,914 shares of the company’s stock valued at $1,431,000 after acquiring an additional 57,323 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Century Therapeutics during the 3rd quarter worth approximately $284,000. 50.20% of the stock is owned by hedge funds and other institutional investors.

About Century Therapeutics

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.