Century Therapeutics (NASDAQ:IPSC) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Century Therapeutics, Inc. (NASDAQ:IPSC)’s stock price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $1.65 and traded as low as $1.60. Century Therapeutics shares last traded at $1.63, with a volume of 608,756 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a research report on Tuesday, September 29th. Wall Street Zen lowered shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Century Therapeutics has an average rating of “Hold” and a consensus target price of $4.75.

Century Therapeutics Trading Down 6.3%

The firm has a market cap of $295.14 million, a price-to-earnings ratio of -1.75 and a beta of 1.78. The stock’s 50 day moving average is $1.65 and its 200 day moving average is $2.07.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. On average, equities research analysts predict that Century Therapeutics, Inc. will post -0.51 EPS for the current year.

Institutional Trading of Century Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Versant Venture Management LLC bought a new stake in Century Therapeutics in the 1st quarter valued at $27,495,000. BlackRock Inc. bought a new stake in Century Therapeutics in the 2nd quarter valued at about $19,825,000. Commodore Capital LP bought a new stake in Century Therapeutics in the 1st quarter valued at about $19,652,000. Seven Fleet Capital Management LP acquired a new position in shares of Century Therapeutics during the 2nd quarter worth approximately $10,652,174. Finally, Trails Edge Capital Partners LP acquired a new position in shares of Century Therapeutics during the 2nd quarter worth approximately $10,130,674. 50.20% of the stock is owned by institutional investors and hedge funds.

Century Therapeutics Company Profile

Century Therapeutics is a biotechnology company developing cell-based therapies for cancer and other serious diseases. Its research focuses on allogeneic treatments, which are designed to be produced from donor cells rather than made separately for each patient. The company uses induced pluripotent stem cell technology to create immune cells, including natural killer cells and T cells, that can be engineered to recognize and attack disease. Its work includes developing cell therapies with genetic modifications intended to improve their activity and persistence.