Century Therapeutics (NASDAQ:IPSC) Receives New Coverage from Analysts at Rodman & Renshaw

Rodman & Renshaw assumed coverage on shares of Century Therapeutics (NASDAQ:IPSC) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $6.00 price objective on the stock.

IPSC has been the topic of several other research reports. HC Wainwright reiterated a buy rating and issued a $11.00 price objective on shares of Century Therapeutics in a research note on Tuesday, June 4th. Piper Sandler upped their target price on shares of Century Therapeutics from $9.00 to $12.00 and gave the company an overweight rating in a report on Monday, June 17th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $12.50.

Century Therapeutics Price Performance

NASDAQ IPSC traded down $0.08 during trading hours on Thursday, hitting $1.72. The company’s stock had a trading volume of 272,372 shares, compared to its average volume of 215,346. Century Therapeutics has a 12 month low of $1.28 and a 12 month high of $5.51. The company’s 50 day simple moving average is $2.60 and its two-hundred day simple moving average is $3.42. The company has a market cap of $145.34 million, a P/E ratio of -0.79 and a beta of 1.39.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.05. Century Therapeutics had a negative net margin of 9,742.41% and a negative return on equity of 59.74%. The company had revenue of $0.86 million for the quarter, compared to the consensus estimate of $0.30 million. As a group, research analysts predict that Century Therapeutics will post -1.94 earnings per share for the current fiscal year.

Institutional Trading of Century Therapeutics

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Century Therapeutics by 6.1% in the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock valued at $422,000 after acquiring an additional 9,500 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Century Therapeutics by 141.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after purchasing an additional 44,155 shares during the period. Rhumbline Advisers increased its position in shares of Century Therapeutics by 56.0% during the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after purchasing an additional 18,828 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Century Therapeutics by 110.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after buying an additional 78,088 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Century Therapeutics by 191.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock worth $1,229,000 after buying an additional 192,915 shares during the last quarter. 50.20% of the stock is owned by hedge funds and other 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.