Versant Venture Capital Vi, L. Sells 550,000 Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) Stock

Century Therapeutics, Inc. (NASDAQ:IPSC – Get Rating) major shareholder Versant Venture Capital Vi, L. sold 550,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $13.03, for a total value of $7,166,500.00. Following the transaction, the insider now directly owns 11,816,814 shares in the company, valued at $153,973,086.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Century Therapeutics Price Performance

IPSC opened at $12.15 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.62 and a current ratio of 16.62. Century Therapeutics, Inc. has a 52-week low of $7.32 and a 52-week high of $32.90. The stock has a market capitalization of $715.03 million, a PE ratio of -3.67 and a beta of 0.34. The stock’s 50 day moving average price is $9.72 and its 200-day moving average price is $10.98.

Century Therapeutics (NASDAQ:IPSC – Get Rating) last posted its earnings results on Monday, May 16th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.21). The firm had revenue of $1.06 million during the quarter, compared to analysts’ expectations of $20.00 million. On average, equities research analysts predict that Century Therapeutics, Inc. will post -2.32 EPS for the current year.

Hedge Funds Weigh In On Century Therapeutics

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Century Therapeutics during the fourth quarter valued at approximately $246,000. New York State Common Retirement Fund boosted its position in shares of Century Therapeutics by 267.5% during the fourth quarter. New York State Common Retirement Fund now owns 7,718 shares of the company’s stock valued at $122,000 after purchasing an additional 5,618 shares in the last quarter. Royce & Associates LP bought a new stake in shares of Century Therapeutics during the fourth quarter valued at approximately $205,000. ProShare Advisors LLC bought a new stake in shares of Century Therapeutics during the fourth quarter valued at approximately $163,000. Finally, HarbourVest Partners LLC bought a new stake in shares of Century Therapeutics during the fourth quarter valued at approximately $232,000. 57.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on IPSC shares. HC Wainwright started coverage on Century Therapeutics in a research note on Monday, May 23rd. They issued a “buy” rating and a $27.00 price target on the stock. Piper Sandler decreased their price target on Century Therapeutics from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, May 16th. Roth Capital started coverage on Century Therapeutics in a research note on Friday, June 10th. They issued a “buy” rating on the stock. Finally, William Blair started coverage on Century Therapeutics in a research note on Thursday, May 12th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Century Therapeutics Company Profile

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Century Therapeutics, Inc, a biotechnology company, develops transformative allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. The company’s lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy targeting CD19 for relapsed, refractory B-cell lymphoma.

Further Reading

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