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

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

Century Therapeutics Stock Down 7.8%

Shares of NASDAQ IPSC opened at $1.00 on Tuesday. The firm has a market cap of $87.40 million, a price-to-earnings ratio of -3.13 and a beta of 1.80. The company’s 50-day simple moving average is $0.62 and its 200-day simple moving average is $0.57. Century Therapeutics, Inc. has a 52-week low of $0.34 and a 52-week high of $1.19.

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

Institutional Investors Weigh In On Century Therapeutics

A number of hedge funds have recently modified their holdings of IPSC. Bank of America Corp DE increased its position in Century Therapeutics by 109.1% during the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after purchasing an additional 34,466 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Century Therapeutics by 26.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock valued at $86,000 after buying an additional 38,052 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Century Therapeutics during the 2nd quarter worth approximately $25,000. Qube Research & Technologies Ltd acquired a new stake in shares of Century Therapeutics during the 2nd quarter worth approximately $38,000. Finally, AQR Capital Management LLC raised its position in shares of Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after buying an additional 86,875 shares during the period. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Analyst Ratings Changes

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

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.