Piper Sandler Has Lowered Expectations for Century Therapeutics (NASDAQ:IPSC) Stock Price

Century Therapeutics (NASDAQ:IPSC) had its price target dropped by equities research analysts at Piper Sandler from $12.00 to $4.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 296.04% from the stock’s current price.

IPSC has been the subject of a number of other reports. 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 lowered their target price on shares of Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.00.

Century Therapeutics Trading Up 1.0 %

Shares of NASDAQ:IPSC opened at $1.01 on Monday. Century Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.51. The company’s 50 day moving average is $1.31 and its two-hundred day moving average is $1.74. The company has a market cap of $85.88 million, a PE ratio of -0.55 and a beta of 1.65.

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

Institutional Investors Weigh In On Century Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Century Therapeutics by 56.0% in the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after acquiring an additional 18,828 shares during the period. SG Americas Securities LLC acquired a new position in Century Therapeutics in the third quarter valued at $27,000. Dimensional Fund Advisors LP raised its holdings in shares of Century Therapeutics by 141.7% in the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after buying an additional 44,155 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Century Therapeutics during the third quarter worth about $284,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Century Therapeutics by 110.1% during the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after buying an additional 78,088 shares during the last quarter. Hedge funds and other 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.