Chad Cowan Buys 58,060 Shares of Century Therapeutics (NASDAQ:IPSC) Stock

Century Therapeutics, Inc. (NASDAQ:IPSC) insider Chad Cowan purchased 58,060 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were bought at an average cost of $0.85 per share, with a total value of $49,351.00. Following the purchase, the insider directly owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. This represents a 5.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Century Therapeutics Trading Down 7.8%

Shares of IPSC traded down $0.09 during mid-day trading on Monday, hitting $1.00. The company’s stock had a trading volume of 1,203,295 shares, compared to its average volume of 843,106. The company’s 50-day moving average is $0.61 and its 200-day moving average is $0.57. Century Therapeutics, Inc. has a 52-week low of $0.34 and a 52-week high of $1.19. The firm has a market capitalization of $87.41 million, a price-to-earnings ratio of -3.13 and a beta of 1.80.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. Century Therapeutics had a negative return on equity of 10.01% and a negative net margin of 19.10%. As a group, sell-side analysts predict that Century Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IPSC. Weiss Ratings restated a “sell (e+)” rating on shares of Century Therapeutics in a research note on Wednesday, October 8th. Leerink Partners reaffirmed a “market perform” rating and set a $2.00 price target (down previously from $7.00) on shares of Century Therapeutics in a research report on Monday, November 17th. Wall Street Zen downgraded Century Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, October 20th. Finally, Leerink Partnrs downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Century Therapeutics currently has a consensus rating of “Hold” and an average price target of $3.40.

Hedge Funds Weigh In On Century Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC grew its position in shares of Century Therapeutics by 64.1% during the third quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock worth $180,000 after acquiring an additional 140,891 shares during the last quarter. Two Sigma Investments LP raised its holdings in Century Therapeutics by 59.2% during the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock worth $454,000 after buying an additional 338,902 shares during the period. Squarepoint Ops LLC boosted its position in Century Therapeutics by 483.1% during the 3rd quarter. Squarepoint Ops LLC now owns 236,053 shares of the company’s stock worth $118,000 after acquiring an additional 195,573 shares during the period. GSA Capital Partners LLP grew its stake in Century Therapeutics by 29.3% in the third quarter. GSA Capital Partners LLP now owns 603,479 shares of the company’s stock valued at $301,000 after purchasing an additional 136,873 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Century Therapeutics during the second quarter worth $248,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

About Century Therapeutics

Century Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of allogeneic cell therapies for cancer. Utilizing induced pluripotent stem cell (iPSC) technology, the company engineers “off-the-shelf” natural killer (NK) and T cell candidates designed to target hematologic malignancies and solid tumors. By harnessing iPSC-derived immune cells, Century aims to overcome challenges associated with patient-derived therapies, such as manufacturing variability and treatment delays.

The company’s proprietary platform integrates gene editing, synthetic biology and scalable cell expansion processes to generate a pipeline of product candidates.