Gregory Russotti Sells 10,076 Shares of Century Therapeutics (NASDAQ:IPSC) Stock

Century Therapeutics, Inc. (NASDAQ:IPSC) insider Gregory Russotti sold 10,076 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $2.55, for a total transaction of $25,693.80. Following the sale, the insider directly owned 515,427 shares of the company’s stock, valued at approximately $1,314,338.85. This represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, March 9th, Gregory Russotti sold 479 shares of Century Therapeutics stock. The shares were sold at an average price of $2.54, for a total value of $1,216.66.

Century Therapeutics Price Performance

Shares of IPSC traded up $0.09 during trading hours on Monday, hitting $2.43. 815,753 shares of the company were exchanged, compared to its average volume of 1,847,081. The company has a market capitalization of $212.39 million, a PE ratio of -17.36 and a beta of 1.70. The firm has a fifty day simple moving average of $2.08 and a 200-day simple moving average of $1.12. Century Therapeutics, Inc. has a one year low of $0.34 and a one year high of $3.04.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Sell-side analysts expect that Century Therapeutics, Inc. will post -1.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IPSC shares. Leerink Partners set a $2.00 target price on shares of Century Therapeutics and gave the stock a “market perform” rating in a report on Friday. TD Cowen started coverage on shares of Century Therapeutics in a research report on Wednesday, February 25th. They issued a “buy” rating for the company. Piper Sandler raised their price objective on shares of Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Wall Street Zen raised shares of Century Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Zacks Research cut Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Century Therapeutics has an average rating of “Moderate Buy” and an average target price of $3.80.

Hedge Funds Weigh In On Century Therapeutics

Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. acquired a new position in shares of Century Therapeutics in the second quarter worth $25,000. Qube Research & Technologies Ltd bought a new stake in shares of Century Therapeutics in the 2nd quarter valued at approximately $38,000. Raymond James Financial Inc. acquired a new position in Century Therapeutics in the second quarter worth approximately $51,000. AQR Capital Management LLC increased its holdings in Century Therapeutics by 358.9% in the first quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after buying an additional 86,875 shares during the last quarter. Finally, Bank of America Corp DE raised 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 valued at $67,000 after acquiring an additional 34,466 shares in the last quarter. 50.20% of the stock is owned by institutional investors and hedge funds.

Century Therapeutics Company Profile

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.