Fmr LLC Reduces Position in Century Therapeutics, Inc. (NASDAQ:IPSC)

Fmr LLC decreased its position in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) by 14.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,521,511 shares of the company’s stock after selling 428,768 shares during the quarter. Fmr LLC’s holdings in Century Therapeutics were worth $4,312,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Century Therapeutics during the third quarter worth about $27,000. Rhumbline Advisers lifted its holdings in shares of Century Therapeutics by 56.0% in the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after buying an additional 18,828 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Century Therapeutics by 141.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after purchasing an additional 44,155 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Century Therapeutics by 110.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after acquiring an additional 78,088 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Century Therapeutics by 6.1% in the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after acquiring an additional 9,500 shares in the last quarter. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IPSC. Chardan Capital lowered their target price on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright lowered their price objective on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $11.60.

Century Therapeutics Stock Performance

Shares of IPSC stock opened at $1.22 on Friday. Century Therapeutics, Inc. has a fifty-two week low of $1.14 and a fifty-two week high of $5.51. The company has a 50 day moving average price of $1.41 and a 200 day moving average price of $1.93. The stock has a market capitalization of $103.74 million, a P/E ratio of -0.66 and a beta of 1.65.

Century Therapeutics (NASDAQ:IPSC) last issued its earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.08. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. The firm had revenue of $0.79 million for the quarter, compared to analysts’ expectations of $0.47 million. During the same quarter last year, the company earned ($0.55) earnings per share. On average, research analysts forecast that Century Therapeutics, Inc. will post -1.63 EPS for the current fiscal year.

Century Therapeutics Company 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.