Century Therapeutics (NASDAQ:IPSC) Trading Down 4.3% – Here’s Why

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. HC Wainwright decreased their price target on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Chardan Capital cut their price objective on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Century Therapeutics has a consensus rating of “Buy” and a consensus price target of $11.60.

Century Therapeutics Price Performance

The firm has a market cap of $103.74 million, a price-to-earnings ratio of -0.66 and a beta of 1.65. The company has a fifty day moving average price of $1.41 and a two-hundred day moving average price of $1.93.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Tuesday, November 5th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.08. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. The business had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.47 million. During the same period in the prior year, the business posted ($0.55) earnings per share. On average, research analysts expect that Century Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Century Therapeutics

Several hedge funds have recently modified their holdings of IPSC. SG Americas Securities LLC acquired a new position in Century Therapeutics during the third quarter valued at $27,000. Rhumbline Advisers raised its position in Century Therapeutics by 56.0% during the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after buying an additional 18,828 shares during the period. Barclays PLC raised its position in Century Therapeutics by 283.6% during the third quarter. Barclays PLC now owns 61,945 shares of the company’s stock valued at $106,000 after buying an additional 45,797 shares during the period. Dimensional Fund Advisors LP raised its position in Century Therapeutics by 141.7% during the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after buying an additional 44,155 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Century Therapeutics by 110.1% during the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after buying an additional 78,088 shares during the period. 50.20% of the stock is owned by hedge funds and other institutional investors.

Century Therapeutics Company Profile

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.