Century Therapeutics (NASDAQ:IPSC) Trading Down 4.3% - Here's Why

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC - Get Free Report) traded down 4.3% during mid-day trading on Wednesday . The company traded as low as $1.33 and last traded at $1.35. 787,408 shares changed hands during mid-day trading, an increase of 162% from the average session volume of 300,572 shares. The stock had previously closed at $1.41.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Chardan Capital reduced their price target on shares of 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 reduced their target price 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $11.60.

Century Therapeutics Stock Down 7.4 %

The company has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.94. The company has a market cap of $106.29 million, a P/E ratio of -0.68 and a beta of 1.65.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $0.47 million. During the same quarter in the prior year, the firm posted ($0.55) EPS. On average, research analysts expect that Century Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Century Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company's stock valued at $4,760,000 after purchasing an additional 14,000 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Century Therapeutics by 56.0% in the second quarter. Rhumbline Advisers now owns 52,466 shares of the company's stock valued at $134,000 after buying an additional 18,828 shares during the period. SG Americas Securities LLC bought a new position in Century Therapeutics during the third quarter valued at about $27,000. Dimensional Fund Advisors LP grew its holdings in Century Therapeutics by 141.7% during the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company's stock worth $192,000 after acquiring an additional 44,155 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Century Therapeutics by 110.1% in the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company's stock worth $380,000 after acquiring an additional 78,088 shares in the last quarter. 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.