Century Therapeutics (NASDAQ:IPSC) Given New $4.00 Price Target at Piper Sandler

Century Therapeutics (NASDAQ:IPSC - Get Free Report) had its price objective decreased by equities researchers at Piper Sandler from $12.00 to $4.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 300.00% from the stock's previous close.

Several other analysts also recently issued reports on IPSC. Chardan Capital lowered their price target on Century Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, November 7th. HC Wainwright decreased their target price on Century Therapeutics from $9.00 to $5.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $10.00.

Century Therapeutics Stock Performance

Shares of NASDAQ:IPSC traded down $0.04 during trading on Monday, reaching $1.00. 328,903 shares of the stock were exchanged, compared to its average volume of 320,326. The firm's 50-day moving average price is $1.33 and its 200 day moving average price is $1.77. The firm has a market cap of $85.03 million, a price-to-earnings ratio of -0.54 and a beta of 1.65. Century Therapeutics has a 12-month low of $0.95 and a 12-month high of $5.51.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.08. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. The firm had revenue of $0.79 million for the quarter, compared to analysts' expectations of $0.47 million. During the same period in the previous year, the company posted ($0.55) earnings per share. As a group, equities research analysts forecast that Century Therapeutics will post -1.63 EPS for the current year.

Institutional Investors Weigh In On Century Therapeutics

A number of large investors have recently added to or reduced their stakes in IPSC. JPMorgan Chase & Co. boosted its position in Century Therapeutics by 257.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company's stock valued at $123,000 after buying an additional 51,664 shares during the last quarter. Barclays PLC lifted its stake in shares of Century Therapeutics by 283.6% in the third quarter. Barclays PLC now owns 61,945 shares of the company's stock worth $106,000 after acquiring an additional 45,797 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Century Therapeutics by 3.5% in the third quarter. Geode Capital Management LLC now owns 968,182 shares of the company's stock valued at $1,656,000 after purchasing an additional 32,614 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Century Therapeutics during the 3rd quarter valued at approximately $284,000. Finally, State Street Corp increased its holdings in Century Therapeutics by 7.4% during the 3rd quarter. State Street Corp now owns 836,914 shares of the company's stock worth $1,431,000 after purchasing an additional 57,323 shares during the last quarter. 50.20% of the stock is owned by institutional investors and hedge funds.

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.