Century Therapeutics, Inc. $IPSC Stock Position Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in Century Therapeutics, Inc. (NASDAQ:IPSC) by 32.8% during the first quarter, HoldingsChannel.com reports. The fund owned 906,827 shares of the company’s stock after selling 442,373 shares during the period. Renaissance Technologies LLC’s holdings in Century Therapeutics were worth $2,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of IPSC. Dimensional Fund Advisors LP purchased a new stake in shares of Century Therapeutics during the first quarter valued at $122,000. Quadrant Private Wealth Management LLC increased its stake in Century Therapeutics by 31.0% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock worth $45,000 after purchasing an additional 4,736 shares in the last quarter. Versant Venture Management LLC acquired a new stake in Century Therapeutics during the 1st quarter worth about $27,495,000. Bank of New York Mellon Corp acquired a new stake in Century Therapeutics during the 1st quarter worth about $29,000. Finally, Cannon Global Investment Management LLC purchased a new stake in Century Therapeutics during the first quarter valued at about $111,000. 50.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. HC Wainwright lifted their target price on shares of Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a research note on Thursday, July 2nd. Finally, Mizuho initiated coverage on shares of Century Therapeutics in a research note on Wednesday, May 27th. They set an “outperform” rating and a $8.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.75.

Century Therapeutics Stock Performance

Shares of IPSC opened at $1.98 on Tuesday. The company’s 50 day moving average price is $2.21 and its 200 day moving average price is $2.23. Century Therapeutics, Inc. has a 52 week low of $0.44 and a 52 week high of $3.04. The company has a market capitalization of $357.09 million, a PE ratio of -1.74 and a beta of 1.57.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. On average, equities analysts forecast that Century Therapeutics, Inc. will post -0.43 earnings per share for the current fiscal year.

Century Therapeutics 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.