Century Therapeutics (NASDAQ:IPSC) Shares Down 8.7% - Time to Sell?

Century Therapeutics, Inc. (NASDAQ:IPSC - Get Free Report) shares were down 8.7% during trading on Tuesday . The stock traded as low as $0.57 and last traded at $0.58. Approximately 2,008,300 shares traded hands during trading, an increase of 122% from the average daily volume of 905,582 shares. The stock had previously closed at $0.64.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital cut their price target on Century Therapeutics from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Century Therapeutics presently has a consensus rating of "Buy" and an average price target of $4.20.

Century Therapeutics Trading Down 2.9%

The firm has a 50 day simple moving average of $0.58 and a two-hundred day simple moving average of $0.61. The company has a market capitalization of $45.83 million, a PE ratio of -1.83 and a beta of 1.78.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $1.20. Century Therapeutics had a negative return on equity of 10.71% and a negative net margin of 19.10%. The company had revenue of $109.16 million for the quarter, compared to the consensus estimate of $45.52 million. Research analysts expect that Century Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Century Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of IPSC. Marshall Wace LLP acquired a new stake in Century Therapeutics in the fourth quarter valued at $36,000. Jane Street Group LLC lifted its holdings in Century Therapeutics by 166.2% in the fourth quarter. Jane Street Group LLC now owns 48,036 shares of the company's stock valued at $49,000 after acquiring an additional 29,992 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Century Therapeutics in the second quarter valued at $50,000. Two Sigma Advisers LP purchased a new position in Century Therapeutics in the 4th quarter valued at approximately $52,000. Finally, Sei Investments Co. purchased a new position in Century Therapeutics in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 50.20% of the company's stock.

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.