Insider Selling: Century Therapeutics, Inc. (NASDAQ:IPSC) Insider Sells $15,500.00 in Stock

Century Therapeutics, Inc. (NASDAQ:IPSC) insider Gregory Russotti sold 5,000 shares of Century Therapeutics stock in a transaction on Monday, April 22nd. The stock was 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 in the company, valued at approximately $921,688.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Century Therapeutics Stock Performance

IPSC opened at $2.88 on Friday. The company has a 50-day moving average of $4.03 and a 200-day moving average of $3.14. The company has a market capitalization of $186.68 million, a P/E ratio of -1.26 and a beta of 1.33. Century Therapeutics, Inc. has a 1-year low of $1.28 and a 1-year high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Thursday, March 14th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate 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 net margin of 6,115.12% and a negative return on equity of 54.73%. As a group, sell-side analysts expect that Century Therapeutics, Inc. will post -1.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Century Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. raised its stake in 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 acquiring an additional 2,500 shares during the period. Abel Hall LLC acquired a new stake in Century Therapeutics during the fourth quarter worth about $33,000. Finally, Avidity Partners Management LP raised its stake in Century Therapeutics by 23.4% during the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock worth $4,499,000 after acquiring an additional 256,500 shares during the period. Institutional investors and hedge funds own 50.20% of the company’s stock.

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.