What is HC Wainwright's Forecast for IPSC FY2024 Earnings?

Century Therapeutics, Inc. (NASDAQ:IPSC - Free Report) - Equities researchers at HC Wainwright upped their FY2024 earnings estimates for Century Therapeutics in a report issued on Wednesday, November 6th. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings per share of ($1.66) for the year, up from their prior forecast of ($1.71). HC Wainwright currently has a "Buy" rating and a $5.00 price target on the stock. The consensus estimate for Century Therapeutics' current full-year earnings is ($1.80) per share.

IPSC has been the topic of several other research reports. Chardan Capital lowered their price objective on shares of Century Therapeutics from $17.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday. Rodman & Renshaw started coverage on Century Therapeutics in a research report on Thursday, August 8th. They set a "buy" rating and a $6.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $11.60.

Century Therapeutics Trading Down 1.4 %

NASDAQ:IPSC traded down $0.02 during mid-day trading on Friday, reaching $1.44. 327,206 shares of the stock were exchanged, compared to its average volume of 261,880. Century Therapeutics has a 1-year low of $1.14 and a 1-year high of $5.51. The firm has a market capitalization of $121.99 million, a PE ratio of -0.79 and a beta of 1.41. The business has a fifty day moving average price of $1.52 and a 200 day moving average price of $2.23.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating 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 60.60% and a negative net margin of 6,434.23%. During the same period last year, the firm earned ($0.55) EPS.

Institutional Investors Weigh In On Century Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Century Therapeutics in the 1st quarter valued at approximately $47,000. Vanguard Group Inc. increased its stake in shares of Century Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company's stock worth $4,760,000 after purchasing an additional 14,000 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Century Therapeutics by 191.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company's stock valued at $1,229,000 after purchasing an additional 192,915 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 78,088 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Century Therapeutics by 56.0% in the second quarter. Rhumbline Advisers now owns 52,466 shares of the company's stock worth $134,000 after purchasing an additional 18,828 shares in the last quarter. Hedge funds and other institutional investors 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.