Century Therapeutics (NASDAQ:IPSC) Issues Quarterly Earnings Results

Key Points

• Century Therapeutics reported a quarterly loss of $0.17 per share, missing analysts’ consensus estimate of a $0.11 loss by $0.06.
• Shares fell 1.9% to $2.02, while analysts’ ratings remained mixed; the stock has a consensus “Hold” rating and an average price target of $4.75.
• Institutional investors own approximately 50.2% of the company, with several hedge funds recently initiating or expanding positions in Century Therapeutics.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.06), FiscalAI reports.

Century Therapeutics Stock Down 1.9%

NASDAQ:IPSC traded down $0.04 during mid-day trading on Wednesday, reaching $2.02. The company's stock had a trading volume of 323,425 shares, compared to its average volume of 1,441,432. Century Therapeutics has a 1 year low of $0.44 and a 1 year high of $3.04. The stock has a fifty day moving average of $2.20 and a 200-day moving average of $2.23. The firm has a market capitalization of $364.31 million, a PE ratio of -1.77 and a beta of 1.57.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Century Therapeutics in a report on Thursday, July 2nd. Wall Street Zen lowered Century Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. HC Wainwright increased their price objective on Century Therapeutics from $2.00 to $5.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Finally, Mizuho started coverage on Century Therapeutics in a report on Wednesday, May 27th. They set an "outperform" rating and a $8.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.75.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors have recently bought and sold shares of IPSC. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Century Therapeutics during the fourth quarter valued at about $1,829,000. Jane Street Group LLC purchased a new position in shares of Century Therapeutics in the 2nd quarter worth approximately $248,000. Two Sigma Investments LP grew its position in shares of Century Therapeutics by 59.2% in the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company's stock worth $454,000 after buying an additional 338,902 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Century Therapeutics by 483.1% during the 3rd quarter. Squarepoint Ops LLC now owns 236,053 shares of the company's stock worth $118,000 after acquiring an additional 195,573 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Century Therapeutics by 101.2% during the 1st quarter. Acadian Asset Management LLC now owns 284,229 shares of the company's stock worth $133,000 after acquiring an additional 142,953 shares in the last quarter. 50.20% of the stock is owned by hedge funds and other institutional investors.

Century Therapeutics Company Profile

Century Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of allogeneic cell therapies for cancer. Utilizing induced pluripotent stem cell (iPSC) technology, the company engineers “off-the-shelf” natural killer (NK) and T cell candidates designed to target hematologic malignancies and solid tumors. By harnessing iPSC-derived immune cells, Century aims to overcome challenges associated with patient-derived therapies, such as manufacturing variability and treatment delays.

The company's proprietary platform integrates gene editing, synthetic biology and scalable cell expansion processes to generate a pipeline of product candidates.

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