Fmr LLC Cuts Stake in Century Therapeutics, Inc. (NASDAQ:IPSC)

Fmr LLC lowered its position in Century Therapeutics, Inc. (NASDAQ:IPSC) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,521,511 shares of the company’s stock after selling 428,768 shares during the quarter. Fmr LLC owned about 2.97% of Century Therapeutics worth $4,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Century Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock valued at $4,760,000 after acquiring an additional 14,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Century Therapeutics by 110.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after acquiring an additional 78,088 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Century Therapeutics by 56.0% during the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after acquiring an additional 18,828 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Century Therapeutics by 141.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after buying an additional 44,155 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Century Therapeutics by 6.1% during the second quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after purchasing an additional 9,500 shares during the last quarter. 50.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IPSC has been the subject of several recent research reports. Chardan Capital lowered their price target on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. HC Wainwright lowered their price objective on shares of Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $11.60.

Century Therapeutics Price Performance

Shares of NASDAQ IPSC opened at $1.22 on Friday. The stock has a market capitalization of $103.74 million, a P/E ratio of -0.66 and a beta of 1.65. The company’s 50-day moving average is $1.41 and its 200 day moving average is $1.93. Century Therapeutics, Inc. has a 1 year low of $1.14 and a 1 year high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.08. The company had revenue of $0.79 million for the quarter, compared to analysts’ expectations of $0.47 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. During the same period in the prior year, the firm earned ($0.55) earnings per share. Research analysts anticipate that Century Therapeutics, Inc. will post -1.63 earnings per share for the current year.

Century Therapeutics 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.