Guggenheim Lowers Century Therapeutics (NASDAQ:IPSC) Price Target to $5.00

Century Therapeutics (NASDAQ:IPSC) had its price target decreased by equities researchers at Guggenheim from $12.00 to $5.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

IPSC has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Century Therapeutics in a research report on Wednesday, January 22nd. Piper Sandler decreased their price objective on shares of Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $5.80.

Century Therapeutics Price Performance

Shares of IPSC stock traded down $0.00 during trading on Friday, hitting $0.55. 86,996 shares of the stock traded hands, compared to its average volume of 371,003. Century Therapeutics has a 52-week low of $0.52 and a 52-week high of $5.24. The firm has a market capitalization of $46.68 million, a P/E ratio of -0.30 and a beta of 1.75. The firm’s fifty day moving average price is $0.75 and its 200-day moving average price is $1.17.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Wednesday, March 19th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. The company had revenue of $4.18 million for 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 research analysts expect that Century Therapeutics will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors have recently bought and sold shares of IPSC. Casdin Capital LLC boosted its stake in shares of Century Therapeutics by 61.6% in the fourth quarter. Casdin Capital LLC now owns 5,190,506 shares of the company’s stock valued at $5,242,000 after purchasing an additional 1,978,190 shares during the period. Millennium Management LLC lifted its holdings in Century Therapeutics by 1,041.8% during the 4th quarter. Millennium Management LLC now owns 1,607,174 shares of the company’s stock worth $1,623,000 after buying an additional 1,466,415 shares in the last quarter. Renaissance Technologies LLC boosted its position in Century Therapeutics by 146.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,202,885 shares of the company’s stock valued at $1,215,000 after buying an additional 714,685 shares during the period. Deutsche Bank AG grew its stake in shares of Century Therapeutics by 890.7% in the fourth quarter. Deutsche Bank AG now owns 193,368 shares of the company’s stock worth $195,000 after acquiring an additional 173,849 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Century Therapeutics during the third quarter worth $284,000. 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.