Century Therapeutics (NASDAQ:IPSC) Announces Earnings Results, Beats Estimates By $0.04 EPS

Century Therapeutics (NASDAQ:IPSC) posted its quarterly earnings data on Thursday. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04, FiscalAI reports.

Century Therapeutics Stock Performance

Shares of IPSC traded down $0.16 during mid-day trading on Friday, reaching $2.34. The company had a trading volume of 1,247,899 shares, compared to its average volume of 1,032,977. The company has a market capitalization of $204.52 million, a price-to-earnings ratio of -16.71 and a beta of 1.70. The company’s 50 day simple moving average is $2.08 and its 200 day simple moving average is $1.11. Century Therapeutics has a 1-year low of $0.34 and a 1-year high of $3.04.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IPSC shares. Leerink Partners set a $2.00 target price on shares of Century Therapeutics and gave the company a “market perform” rating in a report on Friday. TD Cowen initiated coverage on shares of Century Therapeutics in a report on Wednesday, February 25th. They set a “buy” rating for the company. Piper Sandler increased their price target on shares of Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Zacks Research cut shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Century Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $3.80.

Insider Transactions at Century Therapeutics

In related news, insider Chad Cowan acquired 58,060 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $0.85 per share, with a total value of $49,351.00. Following the purchase, the insider directly owned 1,045,087 shares in the company, valued at approximately $888,323.95. This trade represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Century Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of IPSC. Prudential Financial Inc. acquired a new position in shares of Century Therapeutics during the second quarter worth $25,000. Qube Research & Technologies Ltd bought a new stake in Century Therapeutics during the 2nd quarter worth $38,000. Raymond James Financial Inc. acquired a new position in Century Therapeutics in the 2nd quarter worth about $51,000. AQR Capital Management LLC increased its holdings in Century Therapeutics by 358.9% in the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after purchasing an additional 86,875 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Century Therapeutics by 109.1% in the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock valued at $67,000 after purchasing an additional 34,466 shares during the last quarter. Institutional investors own 50.20% of the company’s stock.

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.