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

Century Therapeutics, Inc. (NASDAQ:IPSC - Get Free Report) insider Gregory Russotti sold 5,000 shares of the business's stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $3.10, for a total value of $15,500.00. Following the completion of the transaction, the insider now directly owns 297,319 shares in the company, valued at $921,688.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Century Therapeutics Price Performance

NASDAQ IPSC traded down $0.17 on Wednesday, hitting $2.96. 134,089 shares of the stock traded hands, compared to its average volume of 199,775. The business's fifty day moving average is $4.13 and its two-hundred day moving average is $3.13. Century Therapeutics, Inc. has a 12 month low of $1.28 and a 12 month high of $5.51.

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

Institutional Investors Weigh In On Century Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in Century Therapeutics by 0.4% during the fourth 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 in the last quarter. Abel Hall LLC purchased a new stake in Century Therapeutics during the fourth quarter valued at about $33,000. Finally, Avidity Partners Management LP raised its position 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 valued at $4,499,000 after purchasing an additional 256,500 shares in the last quarter. Hedge funds and other institutional investors own 50.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IPSC. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Century Therapeutics in a research note on Friday, March 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $9.00 target price (down from $10.00) on shares of Century Therapeutics in a report on Friday, April 12th. Finally, Canaccord Genuity Group upped their target price on Century Therapeutics from $22.00 to $24.00 and gave the company a "buy" rating in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Century Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.60.

Century Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.