Piper Sandler Lowers Century Therapeutics (NASDAQ:IPSC) Price Target to $2.00

Century Therapeutics (NASDAQ:IPSC) had its price objective decreased by stock analysts at Piper Sandler from $4.00 to $2.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 272.44% from the stock’s previous close.

Several other brokerages also recently issued reports on IPSC. Guggenheim restated a “buy” rating on shares of Century Therapeutics in a report on Wednesday, January 22nd. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Century Therapeutics in a report on Wednesday, January 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.00.

Century Therapeutics Stock Performance

Century Therapeutics stock traded down $0.05 on Thursday, reaching $0.54. The company’s stock had a trading volume of 726,855 shares, compared to its average volume of 369,278. The company has a market cap of $45.66 million, a price-to-earnings ratio of -0.29 and a beta of 1.75. The business’s fifty day moving average price is $0.76 and its 200 day moving average price is $1.17. Century Therapeutics has a twelve month low of $0.53 and a twelve month high of $5.24.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Wednesday, March 19th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02. The company had revenue of $4.18 million during the quarter, compared to the consensus estimate 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, equities analysts forecast that Century Therapeutics will post -1.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IPSC. Squarepoint Ops LLC boosted its position in Century Therapeutics by 56.0% during the fourth quarter. Squarepoint Ops LLC now owns 164,871 shares of the company’s stock valued at $167,000 after purchasing an additional 59,174 shares during the last quarter. Two Sigma Investments LP bought a new stake in Century Therapeutics in the fourth quarter valued at approximately $67,000. Two Sigma Advisers LP bought a new stake in Century Therapeutics in the fourth quarter valued at approximately $52,000. Nuveen Asset Management LLC increased its stake in shares of Century Therapeutics by 48.9% during the fourth quarter. Nuveen Asset Management LLC now owns 157,311 shares of the company’s stock worth $159,000 after purchasing an additional 51,661 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Century Therapeutics by 1,041.8% during the fourth quarter. Millennium Management LLC now owns 1,607,174 shares of the company’s stock worth $1,623,000 after purchasing an additional 1,466,415 shares during the period. 50.20% of the stock is owned by institutional investors and hedge funds.

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.