Leerink Partners Reaffirms “Market Perform” Rating for Century Therapeutics (NASDAQ:IPSC)

Century Therapeutics (NASDAQ:IPSC)‘s stock had its “market perform” rating reissued by stock analysts at Leerink Partners in a report released on Monday,Benzinga reports. They currently have a $2.00 price objective on the stock, down from their previous price objective of $7.00. Leerink Partners’ price objective suggests a potential upside of 308.16% from the company’s current price.

A number of other equities analysts have also weighed in on IPSC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Century Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen lowered Century Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, October 20th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Century Therapeutics currently has an average rating of “Hold” and an average price target of $3.40.

Century Therapeutics Stock Performance

NASDAQ IPSC opened at $0.49 on Monday. The stock has a market cap of $42.78 million, a price-to-earnings ratio of -1.53 and a beta of 1.80. The business has a 50 day simple moving average of $0.54 and a 200 day simple moving average of $0.55. Century Therapeutics has a 52-week low of $0.34 and a 52-week high of $1.83.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.07. Century Therapeutics had a negative net margin of 19.10% and a negative return on equity of 10.01%. On average, analysts predict that Century Therapeutics will post -1.61 EPS for the current year.

Institutional Trading of Century Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. acquired a new position in Century Therapeutics during the second quarter valued at approximately $25,000. Qube Research & Technologies Ltd bought a new stake in shares of Century Therapeutics during the 2nd quarter worth approximately $38,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Century Therapeutics in the 2nd quarter valued at approximately $50,000. Raymond James Financial Inc. bought a new position in shares of Century Therapeutics in the second quarter valued at $51,000. Finally, AQR Capital Management LLC grew its stake in shares of Century Therapeutics by 358.9% in the first quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after buying an additional 86,875 shares in the last quarter. Institutional investors own 50.20% of the company’s stock.

About Century Therapeutics

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.