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

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

Analyst Upgrades and Downgrades

IPSC has been the topic of several recent research reports. HC Wainwright decreased their price objective on shares of Century Therapeutics from $5.00 to $2.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Chardan Capital dropped their target price on shares of Century Therapeutics from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $4.20.

Century Therapeutics Stock Down 2.9%

The firm has a market cap of $45.83 million, a P/E ratio of -1.83 and a beta of 1.78. The company has a 50 day moving average of $0.58 and a two-hundred day moving average of $0.61.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.89 EPS for the quarter, topping 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 institutional investors and hedge funds have recently made changes to their positions in the company. Casdin Capital LLC boosted its position in Century Therapeutics by 61.6% during the fourth quarter. Casdin Capital LLC now owns 5,190,506 shares of the company's stock valued at $5,242,000 after purchasing an additional 1,978,190 shares during the last quarter. Millennium Management LLC increased its stake in Century Therapeutics by 1,041.8% during the 4th quarter. Millennium Management LLC now owns 1,607,174 shares of the company's stock worth $1,623,000 after acquiring an additional 1,466,415 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Century Therapeutics by 146.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,202,885 shares of the company's stock valued at $1,215,000 after purchasing an additional 714,685 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Century Therapeutics by 890.7% in the 4th quarter. Deutsche Bank AG now owns 193,368 shares of the company's stock valued at $195,000 after purchasing an additional 173,849 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Century Therapeutics in the 1st quarter valued at $75,000. Institutional investors own 50.20% of the company's stock.

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.