Chardan Capital Cuts Century Therapeutics (NASDAQ:IPSC) Price Target to $6.00

Century Therapeutics (NASDAQ:IPSC) had its target price cut by Chardan Capital from $7.00 to $6.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

IPSC has been the subject of a number of other research reports. Guggenheim reaffirmed a “buy” rating on shares of Century Therapeutics in a report on Friday, March 28th. HC Wainwright cut their price target on shares of Century Therapeutics from $5.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, Piper Sandler cut their price target on shares of Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Century Therapeutics has an average rating of “Buy” and an average price target of $4.20.

Century Therapeutics Stock Up 8.2%

NASDAQ IPSC opened at $0.56 on Friday. The firm has a 50-day moving average price of $0.52 and a two-hundred day moving average price of $0.86. Century Therapeutics has a 12-month low of $0.34 and a 12-month high of $3.47. The company has a market capitalization of $48.25 million, a P/E ratio of -0.30 and a beta of 1.80.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $1.20. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. The company had revenue of $109.16 million during the quarter, compared to the consensus estimate of $45.52 million. Equities analysts expect that Century Therapeutics will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Century Therapeutics

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in Century Therapeutics by 26.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock valued at $86,000 after acquiring an additional 38,052 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after purchasing an additional 86,875 shares during the period. Nuveen LLC bought a new stake in shares of Century Therapeutics during the 1st quarter worth $75,000. Squarepoint Ops LLC raised its stake in shares of Century Therapeutics by 56.0% during the 4th quarter. Squarepoint Ops LLC now owns 164,871 shares of the company’s stock worth $167,000 after purchasing an additional 59,174 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Century Therapeutics during the 4th quarter worth $67,000. 50.20% of the stock is currently owned by institutional investors.

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.