Rhumbline Advisers Acquires 18,828 Shares of Century Therapeutics, Inc. (NASDAQ:IPSC)

Rhumbline Advisers boosted its stake in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) by 56.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,466 shares of the company’s stock after acquiring an additional 18,828 shares during the quarter. Rhumbline Advisers’ holdings in Century Therapeutics were worth $134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Abel Hall LLC bought a new stake in shares of Century Therapeutics during the fourth quarter valued at approximately $33,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Century Therapeutics during the 1st quarter worth $47,000. Bank of New York Mellon Corp boosted its position in Century Therapeutics by 110.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after buying an additional 78,088 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Century Therapeutics by 191.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock valued at $1,229,000 after buying an additional 192,915 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Century Therapeutics by 1.2% during the first 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. Institutional investors and hedge funds own 50.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on IPSC. Rodman & Renshaw started coverage on Century Therapeutics in a research note on Thursday, August 8th. They issued a “buy” rating and a $6.00 price target for the company. Piper Sandler upped their target price on shares of Century Therapeutics from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Finally, HC Wainwright reduced their price target on shares of Century Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th.

Century Therapeutics Price Performance

NASDAQ IPSC opened at $1.61 on Monday. Century Therapeutics, Inc. has a one year low of $1.28 and a one year high of $5.51. The firm has a market cap of $136.05 million, a P/E ratio of -0.73 and a beta of 1.36. The stock’s 50-day moving average is $1.79 and its 200-day moving average is $2.72.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Thursday, August 8th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.12. The firm had revenue of $0.77 million for the quarter, compared to the consensus estimate of $0.55 million. Century Therapeutics had a negative net margin of 6,434.23% and a negative return on equity of 60.60%. Equities analysts anticipate that Century Therapeutics, Inc. will post -1.8 EPS for the current year.

Century Therapeutics Profile

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.