HC Wainwright Comments on Century Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:IPSC)

Century Therapeutics, Inc. (NASDAQ:IPSC) – HC Wainwright upped their Q3 2024 EPS estimates for Century Therapeutics in a report issued on Thursday, August 15th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings of ($0.41) per share for the quarter, up from their previous forecast of ($0.52). HC Wainwright currently has a “Buy” rating and a $9.00 price target on the stock. The consensus estimate for Century Therapeutics’ current full-year earnings is ($1.94) per share. HC Wainwright also issued estimates for Century Therapeutics’ Q4 2024 earnings at ($0.47) EPS, FY2024 earnings at ($1.71) EPS, Q1 2025 earnings at ($0.44) EPS, Q2 2025 earnings at ($0.47) EPS, Q3 2025 earnings at ($0.50) EPS, Q4 2025 earnings at ($0.52) EPS and FY2025 earnings at ($1.93) EPS.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.12. Century Therapeutics had a negative return on equity of 59.74% and a negative net margin of 9,742.41%. The business had revenue of $0.77 million during the quarter, compared to analysts’ expectations of $0.55 million.

Several other analysts have also recently weighed in on IPSC. Rodman & Renshaw started coverage on shares of Century Therapeutics in a report on Thursday, August 8th. They issued a “buy” rating and a $6.00 price target on the stock. Piper Sandler boosted their price target on shares of Century Therapeutics from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.20.

Century Therapeutics Stock Performance

NASDAQ IPSC opened at $1.71 on Monday. Century Therapeutics has a fifty-two week low of $1.28 and a fifty-two week high of $5.51. The stock has a 50 day simple moving average of $2.41 and a two-hundred day simple moving average of $3.28. The stock has a market cap of $144.50 million, a P/E ratio of -0.77 and a beta of 1.39.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPSC. Federated Hermes Inc. lifted its position in Century Therapeutics by 0.4% during the fourth quarter. Federated Hermes Inc. now owns 618,482 shares of the company’s stock valued at $2,053,000 after buying an additional 2,500 shares during the period. Avidity Partners Management LP boosted its stake in Century Therapeutics by 23.4% during the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock worth $4,499,000 after acquiring an additional 256,500 shares in the last quarter. Abel Hall LLC bought a new stake in Century Therapeutics during the fourth quarter worth about $33,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Century Therapeutics during the first quarter worth about $47,000. Finally, Vanguard Group Inc. grew its stake in shares of Century Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock worth $4,760,000 after buying an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

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.