Century Therapeutics (NASDAQ:IPSC) Posts Earnings Results, Misses Estimates By $0.06 EPS

Century Therapeutics (NASDAQ:IPSC) issued its quarterly earnings data on Wednesday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.06), FiscalAI reports.

Century Therapeutics Trading Down 1.9%

Shares of NASDAQ IPSC traded down $0.04 during midday trading on Wednesday, reaching $2.02. The company had a trading volume of 323,425 shares, compared to its average volume of 1,441,432. The business’s 50-day simple moving average is $2.20 and its 200 day simple moving average is $2.23. The stock has a market cap of $364.31 million, a P/E ratio of -1.77 and a beta of 1.57. Century Therapeutics has a 1 year low of $0.44 and a 1 year high of $3.04.

Hedge Funds Weigh In On Century Therapeutics

Several hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. purchased a new position in Century Therapeutics in the 2nd quarter worth $25,000. Qube Research & Technologies Ltd purchased a new stake in Century Therapeutics during the 2nd quarter valued at about $38,000. Raymond James Financial Inc. acquired a new position in shares of Century Therapeutics in the second quarter valued at about $51,000. AQR Capital Management LLC increased 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 purchasing an additional 86,875 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Century Therapeutics by 109.1% in the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after purchasing an additional 34,466 shares during the last quarter. 50.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IPSC shares. Mizuho began coverage on Century Therapeutics in a research note on Wednesday, May 27th. They set an “outperform” rating and a $8.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Century Therapeutics in a research note on Thursday, July 2nd. HC Wainwright raised their price target on Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded Century Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Century Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $4.75.

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.