Geode Capital Management LLC Grows Stock Position in Century Therapeutics, Inc. (NASDAQ:IPSC)

Geode Capital Management LLC increased its holdings in Century Therapeutics, Inc. (NASDAQ:IPSC) by 3.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 968,182 shares of the company’s stock after acquiring an additional 32,614 shares during the quarter. Geode Capital Management LLC’s holdings in Century Therapeutics were worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of IPSC. Wellington Management Group LLP bought a new stake in Century Therapeutics during the third quarter valued at about $284,000. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $380,000 after buying an additional 78,088 shares during the last quarter. State Street Corp increased its stake in Century Therapeutics by 7.4% during the third quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after acquiring an additional 57,323 shares during the last quarter. Barclays PLC raised its holdings in Century Therapeutics by 283.6% during the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock valued at $106,000 after buying an additional 45,797 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Century Therapeutics by 141.7% in the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after acquiring an additional 44,155 shares during the period. Institutional investors own 50.20% of the company’s stock.

Century Therapeutics Price Performance

NASDAQ:IPSC opened at $1.07 on Thursday. Century Therapeutics, Inc. has a 1-year low of $0.95 and a 1-year high of $5.51. The company has a 50-day moving average of $1.26 and a 200 day moving average of $1.67. The firm has a market cap of $90.98 million, a PE ratio of -0.58 and a beta of 1.76.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IPSC. Piper Sandler reduced their target price on Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating on the stock in a research note on Monday, December 30th. HC Wainwright reduced their price target on shares of Century Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Chardan Capital lowered their price objective on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $10.00.

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.