Century Therapeutics (NASDAQ:IPSC) Stock Price Down 4.3% – What’s Next?

Century Therapeutics, Inc. (NASDAQ:IPSC)’s stock price was down 4.3% on Wednesday . The stock traded as low as $1.33 and last traded at $1.35. Approximately 787,408 shares traded hands during trading, an increase of 162% from the average daily volume of 300,572 shares. The stock had previously closed at $1.41.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IPSC shares. HC Wainwright dropped their target price on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Chardan Capital cut their target price on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.60.

Century Therapeutics Price Performance

The business has a fifty day moving average price of $1.43 and a 200 day moving average price of $1.95. The company has a market capitalization of $114.79 million, a price-to-earnings ratio of -0.73 and a beta of 1.65.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. The company had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.47 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. During the same quarter last year, the company earned ($0.55) EPS. As a group, sell-side analysts predict that Century Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in Century Therapeutics in the 3rd quarter valued at $284,000. Bank of New York Mellon Corp boosted its holdings in Century Therapeutics by 110.1% in the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after acquiring an additional 78,088 shares during the last quarter. State Street Corp grew its position in shares of Century Therapeutics by 7.4% during the 3rd quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after buying an additional 57,323 shares during the period. Barclays PLC grew its holdings in Century Therapeutics by 283.6% during the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock worth $106,000 after acquiring an additional 45,797 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Century Therapeutics by 141.7% in the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after purchasing an additional 44,155 shares during the last quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

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.