Insider Selling: Century Therapeutics, Inc. (NASDAQ:IPSC) Insider Sells 5,000 Shares of Stock

Century Therapeutics, Inc. (NASDAQ:IPSC) insider Gregory Russotti sold 5,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $3.10, for a total transaction of $15,500.00. Following the sale, the insider now directly owns 297,319 shares of the company’s stock, valued at approximately $921,688.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Century Therapeutics Stock Down 8.6 %

Shares of IPSC stock opened at $2.88 on Friday. The company has a market cap of $186.68 million, a price-to-earnings ratio of -1.26 and a beta of 1.33. Century Therapeutics, Inc. has a 52 week low of $1.28 and a 52 week high of $5.51. The firm has a 50 day moving average of $4.03 and a 200-day moving average of $3.14.

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

Institutional Trading of Century Therapeutics

Hedge funds have recently bought and sold shares of the business. Abel Hall LLC acquired a new stake in Century Therapeutics in the 4th quarter valued at $33,000. Federated Hermes Inc. grew its position in Century Therapeutics by 0.4% in the 4th quarter. Federated Hermes Inc. now owns 618,482 shares of the company’s stock valued at $2,053,000 after purchasing an additional 2,500 shares during the period. Finally, Avidity Partners Management LP grew its position in Century Therapeutics by 23.4% in the 4th quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock valued at $4,499,000 after purchasing an additional 256,500 shares during the period. Institutional investors and hedge funds own 50.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on IPSC shares. 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. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Century Therapeutics in a research report on Friday, March 15th. Finally, Canaccord Genuity Group raised their price objective on shares of Century Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.60.

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.