Century Therapeutics (NASDAQ:IPSC) Trading Up 2.6% – Here’s Why

Century Therapeutics, Inc. (NASDAQ:IPSC) was up 2.6% on Monday . The stock traded as high as $0.58 and last traded at $0.5485. Approximately 532,615 shares were traded during trading, a decline of 61% from the average daily volume of 1,365,559 shares. The stock had previously closed at $0.5348.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen cut Century Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, October 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Century Therapeutics in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Century Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $3.75.

Century Therapeutics Stock Up 2.6%

The business has a 50 day moving average price of $0.53 and a 200 day moving average price of $0.55. The stock has a market cap of $47.38 million, a P/E ratio of -1.89 and a beta of 1.80.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.38) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.38). Century Therapeutics had a negative return on equity of 11.53% and a negative net margin of 19.10%. On average, research analysts expect that Century Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IPSC. GSA Capital Partners LLP lifted its holdings in Century Therapeutics by 29.3% during the 3rd quarter. GSA Capital Partners LLP now owns 603,479 shares of the company’s stock valued at $301,000 after buying an additional 136,873 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Century Therapeutics during the second quarter worth approximately $248,000. Acadian Asset Management LLC increased its position in shares of Century Therapeutics by 101.2% during the first quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock worth $133,000 after acquiring an additional 142,953 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Century Therapeutics by 26.9% during the first quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock valued at $86,000 after acquiring an additional 38,052 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Century Therapeutics in the first quarter valued at approximately $75,000. 50.20% of the stock is currently owned by institutional investors.

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.