Century Therapeutics (NASDAQ:IPSC) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Century Therapeutics (NASDAQ:IPSC) announced its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04, FiscalAI reports.

Century Therapeutics Stock Down 0.4%

Shares of NASDAQ IPSC traded down $0.01 during trading hours on Wednesday, reaching $2.28. 681,079 shares of the stock traded hands, compared to its average volume of 818,274. The company has a market capitalization of $411.20 million, a P/E ratio of -16.29 and a beta of 1.55. Century Therapeutics has a 52-week low of $0.44 and a 52-week high of $3.04. The company’s 50-day simple moving average is $2.33 and its two-hundred day simple moving average is $1.63.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IPSC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Century Therapeutics in a research report on Monday, April 6th. Piper Sandler raised their target price on shares of Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Century Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Zacks Research lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Finally, TD Cowen began coverage on shares of Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Century Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $4.25.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $2.55, for a total transaction of $25,693.80. Following the transaction, the insider directly owned 515,427 shares in the company, valued at $1,314,338.85. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 17,862 shares of company stock valued at $45,488 over the last ninety days. 4.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Century Therapeutics

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP bought a new position in shares of Century Therapeutics during the 1st quarter valued at $122,000. Quadrant Private Wealth Management LLC boosted its position in Century Therapeutics by 31.0% during the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock valued at $45,000 after buying an additional 4,736 shares during the period. Versant Venture Management LLC bought a new position in shares of Century Therapeutics during the first quarter valued at about $27,495,000. Bank of New York Mellon Corp purchased a new position in shares of Century Therapeutics in the first quarter worth about $29,000. Finally, Cannon Global Investment Management LLC purchased a new position in shares of Century Therapeutics in the first quarter worth about $111,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Company Profile

Century Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of allogeneic cell therapies for cancer. Utilizing induced pluripotent stem cell (iPSC) technology, the company engineers “off-the-shelf” natural killer (NK) and T cell candidates designed to target hematologic malignancies and solid tumors. By harnessing iPSC-derived immune cells, Century aims to overcome challenges associated with patient-derived therapies, such as manufacturing variability and treatment delays.

The company’s proprietary platform integrates gene editing, synthetic biology and scalable cell expansion processes to generate a pipeline of product candidates.