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

Century Therapeutics (NASDAQ:IPSC) issued its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04, FiscalAI reports.

Century Therapeutics Price Performance

Shares of Century Therapeutics stock traded down $0.16 during trading on Friday, hitting $2.35. 678,994 shares of the company’s stock traded hands, compared to its average volume of 1,856,037. The company has a market cap of $204.96 million, a PE ratio of -7.33 and a beta of 1.70. The firm’s fifty day moving average price is $2.06 and its 200 day moving average price is $1.10. Century Therapeutics has a twelve month low of $0.34 and a twelve month high of $3.04.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Chad Cowan purchased 58,060 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was purchased at an average price of $0.85 per share, for a total transaction of $49,351.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Century Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of IPSC. Acadian Asset Management LLC grew its position in Century Therapeutics by 101.2% in the first quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock valued at $133,000 after acquiring an additional 142,953 shares during the period. Prudential Financial Inc. acquired a new position in Century Therapeutics in the second quarter worth $25,000. Qube Research & Technologies Ltd bought a new stake in shares of Century Therapeutics during the second quarter worth $38,000. Raymond James Financial Inc. acquired a new stake in shares of Century Therapeutics in the second quarter valued at $51,000. Finally, AQR Capital Management LLC raised its holdings in shares of Century Therapeutics by 358.9% in the first quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after buying an additional 86,875 shares during the last quarter. Institutional investors own 50.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Century Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. TD Cowen assumed coverage on Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating on the stock. Piper Sandler boosted their price target on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Zacks Research upgraded Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Leerink Partners set a $2.00 price objective on Century Therapeutics and gave the stock a “market perform” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.80.

About Century Therapeutics

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.