Century Therapeutics (NASDAQ:IPSC) PT Lowered to $17.00

Century Therapeutics (NASDAQ:IPSC – Get Rating) had its target price cut by research analysts at HC Wainwright from $19.00 to $17.00 in a report issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 340.41% from the company’s previous close. HC Wainwright also issued estimates for Century Therapeutics’ FY2024 earnings at ($2.70) EPS.

A number of other equities analysts also recently issued reports on IPSC. SVB Leerink dropped their price objective on shares of Century Therapeutics from $20.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, January 6th. EF Hutton Acquisition Co. I restated a “buy” rating and set a $16.00 target price on shares of Century Therapeutics in a research note on Thursday. Chardan Capital began coverage on shares of Century Therapeutics in a research note on Tuesday, December 27th. They set a “buy” rating and a $19.00 target price on the stock. Finally, Piper Sandler decreased their target price on shares of Century Therapeutics from $24.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, January 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

Century Therapeutics Stock Performance

IPSC opened at $3.86 on Friday. The company has a current ratio of 13.44, a quick ratio of 13.44 and a debt-to-equity ratio of 0.02. The company has a market cap of $227.62 million, a price-to-earnings ratio of -1.96 and a beta of 0.69. The company’s 50 day moving average is $4.53 and its 200 day moving average is $7.68. Century Therapeutics has a 12-month low of $3.54 and a 12-month high of $14.02.

Institutional Investors Weigh In On Century Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Century Therapeutics by 7.9% during the third quarter. BlackRock Inc. now owns 1,409,163 shares of the company’s stock valued at $13,936,000 after buying an additional 102,978 shares during the last quarter. Vanguard Group Inc. increased its position in Century Therapeutics by 17.8% in the third quarter. Vanguard Group Inc. now owns 1,068,688 shares of the company’s stock worth $10,569,000 after purchasing an additional 161,713 shares during the last quarter. Point72 Asset Management L.P. increased its position in Century Therapeutics by 2.9% in the second quarter. Point72 Asset Management L.P. now owns 481,000 shares of the company’s stock worth $4,040,000 after purchasing an additional 13,610 shares during the last quarter. DAFNA Capital Management LLC increased its position in Century Therapeutics by 85.0% in the second quarter. DAFNA Capital Management LLC now owns 475,367 shares of the company’s stock worth $3,993,000 after purchasing an additional 218,475 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Century Therapeutics by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 409,729 shares of the company’s stock worth $2,101,000 after purchasing an additional 25,732 shares during the last quarter. Institutional investors own 35.81% of the company’s stock.

Century Therapeutics Company Profile

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Century Therapeutics, Inc, a biotechnology company, develops transformative allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. The company's lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy targeting CD19 for relapsed, refractory B-cell lymphoma.