HC Wainwright Lowers Century Therapeutics (NASDAQ:IPSC) Price Target to $11.00

Century Therapeutics (NASDAQ:IPSC) had its target price lowered by investment analysts at HC Wainwright from $13.00 to $11.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 261.84% from the stock’s previous close.

Other analysts have also issued reports about the company. Canaccord Genuity Group lifted their target price on Century Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Piper Sandler reiterated an “overweight” rating and set a $9.00 target price (down from $10.00) on shares of Century Therapeutics in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Century Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Century Therapeutics Trading Down 1.0 %

Shares of IPSC opened at $3.04 on Friday. The stock’s fifty day simple moving average is $3.87 and its 200 day simple moving average is $3.23. Century Therapeutics has a twelve month low of $1.28 and a twelve month high of $5.51. The firm has a market capitalization of $197.05 million, a P/E ratio of -1.33 and a beta of 1.44.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.07. Century Therapeutics had a negative net margin of 6,115.12% and a negative return on equity of 54.73%. The firm had revenue of $0.27 million for the quarter, compared to analyst estimates of $1.69 million. Sell-side analysts predict that Century Therapeutics will post -1.94 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Adrienne Farid sold 22,831 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $5.14, for a total value of $117,351.34. Following the completion of the sale, the insider now owns 114,149 shares in the company, valued at $586,725.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 34,001 shares of company stock valued at $152,090 over the last quarter. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Century Therapeutics

Several large investors have recently modified their holdings of IPSC. Federated Hermes Inc. lifted its stake in Century Therapeutics by 0.4% in the 4th quarter. Federated Hermes Inc. now owns 618,482 shares of the company’s stock worth $2,053,000 after acquiring an additional 2,500 shares in the last quarter. Abel Hall LLC purchased a new stake in shares of Century Therapeutics in the fourth quarter worth approximately $33,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Century Therapeutics during the first quarter worth approximately $47,000. Finally, Avidity Partners Management LP grew its position in Century Therapeutics by 23.4% during the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock valued at $4,499,000 after purchasing an additional 256,500 shares in the last quarter. 50.20% of the stock is owned by 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.