Spruce Street Capital LP Purchases Shares of 4,059,054 Century Therapeutics, Inc. $IPSC

Spruce Street Capital LP acquired a new stake in Century Therapeutics, Inc. (NASDAQ:IPSC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,059,054 shares of the company’s stock, valued at approximately $9,944,682,000. Century Therapeutics accounts for about 2.0% of Spruce Street Capital LP’s portfolio, making the stock its 16th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of IPSC. Quadrant Private Wealth Management LLC increased its stake in shares of Century Therapeutics by 31.0% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock worth $45,000 after purchasing an additional 4,736 shares during the last quarter. Geode Capital Management LLC lifted its stake in Century Therapeutics by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock valued at $454,000 after purchasing an additional 10,806 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Century Therapeutics during the first quarter worth about $29,000. State of Wyoming bought a new position in Century Therapeutics during the second quarter worth about $82,000. Finally, 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 buying an additional 34,466 shares during the last quarter. Institutional investors own 50.20% of the company’s stock.

Wall Street Analysts Forecast Growth

IPSC has been the topic of several research analyst reports. Mizuho began coverage on Century Therapeutics in a research note on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 price objective on the stock. Wall Street Zen downgraded Century Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Century Therapeutics in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Century Therapeutics currently has an average rating of “Hold” and a consensus price target of $4.75.

Century Therapeutics Price Performance

IPSC stock opened at $2.12 on Tuesday. Century Therapeutics, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $3.04. The stock has a market capitalization of $383.88 million, a price-to-earnings ratio of -2.28 and a beta of 1.57. The business’s fifty day moving average price is $2.17 and its two-hundred day moving average price is $2.21.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Wednesday, August 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). Research analysts expect that Century Therapeutics, Inc. will post -0.47 EPS for the current year.

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.