Federated Hermes Inc. Sells 338,980 Shares of Century Therapeutics, Inc. (NASDAQ:IPSC)

Federated Hermes Inc. cut its stake in shares of Century Therapeutics, Inc. (NASDAQ:IPSC - Free Report) by 55.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,163 shares of the company's stock after selling 338,980 shares during the quarter. Federated Hermes Inc. owned 0.33% of Century Therapeutics worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in IPSC. Avidity Partners Management LP raised its holdings in shares of Century Therapeutics by 23.4% during the 4th quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company's stock valued at $4,499,000 after buying an additional 256,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Century Therapeutics in the 1st quarter worth approximately $47,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Century Therapeutics by 191.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company's stock valued at $1,229,000 after purchasing an additional 192,915 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Century Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company's stock valued at $4,760,000 after purchasing an additional 14,000 shares in the last quarter. Finally, Abel Hall LLC bought a new position in shares of Century Therapeutics during the 4th quarter valued at $33,000. 50.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IPSC has been the subject of several analyst reports. HC Wainwright cut their price target on shares of Century Therapeutics from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Rodman & Renshaw started coverage on Century Therapeutics in a research report on Thursday, August 8th. They set a "buy" rating and a $6.00 price target on the stock. Finally, Piper Sandler boosted their price objective on Century Therapeutics from $9.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, June 17th.

Century Therapeutics Stock Performance

IPSC stock traded down $0.15 on Monday, reaching $1.55. The company's stock had a trading volume of 311,192 shares, compared to its average volume of 239,928. The firm has a market cap of $130.98 million, a PE ratio of -0.76 and a beta of 1.36. The business has a fifty day simple moving average of $1.92 and a two-hundred day simple moving average of $2.85. 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 announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.12. The company had revenue of $0.77 million for the quarter, compared to analysts' expectations of $0.55 million. Century Therapeutics had a negative net margin of 6,434.23% and a negative return on equity of 60.60%. As a group, research analysts anticipate that Century Therapeutics, Inc. will post -1.8 earnings per share for the current fiscal year.

Century Therapeutics 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.