Century Therapeutics (NASDAQ:IPSC) Stock Rating Reaffirmed by Piper Sandler

Century Therapeutics (NASDAQ:IPSC)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $9.00 price target on the stock, down from their previous price target of $10.00. Piper Sandler’s target price would suggest a potential upside of 130.18% from the company’s current price.

Several other equities analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Century Therapeutics in a research note on Friday, March 15th. Canaccord Genuity Group increased their target price on Century Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Century Therapeutics Stock Down 3.5 %

Shares of IPSC opened at $3.91 on Friday. Century Therapeutics has a 12-month low of $1.28 and a 12-month high of $5.51. The firm has a market capitalization of $253.44 million, a PE ratio of -1.71 and a beta of 1.33. The stock’s fifty day simple moving average is $4.31 and its 200-day simple moving average is $3.06.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Thursday, March 14th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.07. Century Therapeutics had a negative return on equity of 54.73% and a negative net margin of 6,115.12%. The firm had revenue of $0.27 million for the quarter, compared to analyst estimates of $1.69 million. Analysts anticipate that Century Therapeutics will post -2.02 EPS for the current year.

Insider Transactions at Century Therapeutics

In other news, insider Adrienne Farid sold 22,831 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $5.14, for a total transaction of $117,351.34. Following the sale, the insider now owns 114,149 shares of the company’s stock, valued at $586,725.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 25,509 shares of company stock valued at $127,635 over the last 90 days. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Century Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. increased its position in shares of Century Therapeutics by 1,142.8% during the 2nd quarter. Citigroup Inc. now owns 8,339 shares of the company’s stock worth $26,000 after purchasing an additional 7,668 shares during the last quarter. UBS Group AG acquired a new position in shares of Century Therapeutics during the 4th quarter worth approximately $28,000. Wells Fargo & Company MN increased its position in shares of Century Therapeutics by 148.5% during the 2nd quarter. Wells Fargo & Company MN now owns 8,905 shares of the company’s stock worth $28,000 after purchasing an additional 5,321 shares during the last quarter. Barclays PLC increased its position in shares of Century Therapeutics by 533.3% during the 4th quarter. Barclays PLC now owns 5,408 shares of the company’s stock worth $28,000 after purchasing an additional 4,554 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Century Therapeutics during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

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.