Piper Sandler Has Lowered Expectations for Century Therapeutics (NASDAQ:IPSC) Stock Price

Century Therapeutics (NASDAQ:IPSC) had its price objective cut by investment analysts at Piper Sandler from $4.00 to $2.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 260.36% from the company’s previous close.

Several other equities research analysts have also recently commented on IPSC. Guggenheim reaffirmed a “buy” rating on shares of Century Therapeutics in a report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $5.80.

Century Therapeutics Stock Up 0.9 %

Shares of NASDAQ IPSC opened at $0.56 on Thursday. The firm has a 50-day simple moving average of $0.74 and a 200-day simple moving average of $1.16. The stock has a market capitalization of $47.19 million, a price-to-earnings ratio of -0.30 and a beta of 1.75. Century Therapeutics has a 52 week low of $0.52 and a 52 week high of $4.78.

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

Institutional Investors Weigh In On Century Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in shares of Century Therapeutics during the fourth quarter valued at about $36,000. Jane Street Group LLC increased its holdings in Century Therapeutics by 166.2% in the 4th quarter. Jane Street Group LLC now owns 48,036 shares of the company’s stock valued at $49,000 after purchasing an additional 29,992 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Century Therapeutics in the fourth quarter valued at approximately $52,000. Sei Investments Co. acquired a new position in Century Therapeutics during the fourth quarter worth $53,000. Finally, Two Sigma Investments LP purchased a new position in shares of Century Therapeutics during the fourth quarter worth $67,000. Hedge funds and other institutional investors 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.