Century Therapeutics (NASDAQ:IPSC) Posts Quarterly Earnings Results, Beats Expectations By $1.20 EPS

Century Therapeutics (NASDAQ:IPSC) released its quarterly earnings results on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $1.20, Zacks reports. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%.

Century Therapeutics Stock Performance

Shares of NASDAQ IPSC opened at $0.52 on Friday. The firm’s 50 day moving average price is $0.52 and its 200 day moving average price is $0.87. The firm has a market cap of $44.58 million, a P/E ratio of -0.28 and a beta of 1.80. Century Therapeutics has a 1 year low of $0.34 and a 1 year high of $3.47.

Analyst Ratings Changes

A number of brokerages recently weighed in on IPSC. Chardan Capital dropped their price objective on Century Therapeutics from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Guggenheim reiterated a “buy” rating on shares of Century Therapeutics in a research report on Friday, March 28th. Piper Sandler dropped their target price on shares of Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, HC Wainwright cut their price objective on Century Therapeutics from $5.00 to $2.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $4.40.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Century Therapeutics stock. Bank of America Corp DE grew its stake in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) by 109.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,043 shares of the company’s stock after acquiring an additional 34,466 shares during the quarter. Bank of America Corp DE owned about 0.08% of Century Therapeutics worth $67,000 at the end of the most recent quarter. 50.20% of the stock is currently owned by institutional investors.

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.