Century Therapeutics (NASDAQ:IPSC) Issues Earnings Results

Century Therapeutics (NASDAQ:IPSC) announced its earnings results on Wednesday. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.02, Zacks reports. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. The company had revenue of $4.18 million for the quarter, compared to the consensus estimate of $0.67 million.

Century Therapeutics Trading Down 5.7 %

IPSC stock opened at $0.55 on Friday. The company’s 50-day moving average price is $0.75 and its 200 day moving average price is $1.17. Century Therapeutics has a 52 week low of $0.52 and a 52 week high of $5.24. The company has a market cap of $46.77 million, a P/E ratio of -0.30 and a beta of 1.75.

Institutional Investors Weigh In On Century Therapeutics

An institutional investor recently raised its position in Century Therapeutics stock. Bank of America Corp DE increased its position in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) by 109.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,043 shares of the company’s stock after purchasing an additional 34,466 shares during the quarter. Bank of America Corp DE owned 0.08% of Century Therapeutics worth $67,000 as of its most recent filing with the SEC. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IPSC has been the topic of several recent research reports. Piper Sandler dropped their price objective on shares of Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating on the stock in a research note on Thursday. Guggenheim reiterated a “buy” rating on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Century Therapeutics in a research report on Wednesday, January 22nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $6.00.

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.