Century Therapeutics, Inc. (NASDAQ:IPSC) Insider Sells $15,600.00 in Stock

Century Therapeutics, Inc. (NASDAQ:IPSC) insider Gregory Russotti sold 5,000 shares of Century Therapeutics stock in a transaction on Monday, May 6th. The stock was sold at an average price of $3.12, for a total transaction of $15,600.00. Following the transaction, the insider now directly owns 292,319 shares of the company’s stock, valued at $912,035.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gregory Russotti also recently made the following trade(s):

• On Monday, April 22nd, Gregory Russotti sold 5,000 shares of Century Therapeutics stock. The stock was sold at an average price of $3.10, for a total transaction of $15,500.00.

Century Therapeutics Stock Performance

NASDAQ IPSC opened at $3.37 on Wednesday. Century Therapeutics, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $5.51. The firm has a market capitalization of $218.44 million, a P/E ratio of -1.47 and a beta of 1.44. The stock has a 50-day simple moving average of $3.90 and a two-hundred day simple moving average of $3.22.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.07. The company had revenue of $0.27 million during the quarter, compared to the consensus estimate of $1.69 million. Century Therapeutics had a negative return on equity of 54.73% and a negative net margin of 6,115.12%. As a group, analysts forecast that Century Therapeutics, Inc. will post -1.94 earnings per share for the current year.

Hedge Funds Weigh In On Century Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in IPSC. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Century Therapeutics during the first quarter worth approximately $47,000. Abel Hall LLC acquired a new stake in Century Therapeutics during the 4th quarter worth $33,000. Avidity Partners Management LP boosted its stake in Century Therapeutics by 23.4% in the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock valued at $4,499,000 after acquiring an additional 256,500 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Century Therapeutics by 0.4% during the fourth quarter. Federated Hermes Inc. now owns 618,482 shares of the company’s stock worth $2,053,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Analysts Set New Price Targets

IPSC has been the subject of a number of research reports. Canaccord Genuity Group upped their price objective on shares of Century Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Century Therapeutics in a research report on Friday, March 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $9.00 target price (down previously from $10.00) on shares of Century Therapeutics in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

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.