12,166,109 Shares in Century Therapeutics, Inc. $IPSC Acquired by Versant Venture Management LLC

Key Points

• Versant Venture Management disclosed a new first-quarter stake in Century Therapeutics, buying 12,166,109 shares worth about $27.5 million. The position represents roughly 6.75% of the company and makes IPSC Versant’s second-largest holding.
• Century Therapeutics’ stock was up 1.9%, opening at $2.17, with a market cap of $391.37 million. The shares have traded between a 52-week low of $0.44 and a high of $3.04.
• The company reported a smaller-than-expected quarterly loss of ($0.11) per share, beating analyst estimates by $0.04. Wall Street currently has a cautious outlook, with a consensus rating of Hold and an average price target of $4.75.

Versant Venture Management LLC bought a new stake in Century Therapeutics, Inc. (NASDAQ:IPSC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,166,109 shares of the company's stock, valued at approximately $27,495,000. Century Therapeutics accounts for about 19.4% of Versant Venture Management LLC's portfolio, making the stock its 2nd largest holding. Versant Venture Management LLC owned about 6.75% of Century Therapeutics as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in shares of Century Therapeutics during the first quarter worth $29,000. Prudential Financial Inc. acquired a new stake in Century Therapeutics during the 2nd quarter valued at approximately $25,000. Cannon Global Investment Management LLC purchased a new stake in Century Therapeutics during the 1st quarter worth approximately $111,000. Bank of America Corp DE raised its position in shares of Century Therapeutics by 109.1% in the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company's stock valued at $67,000 after purchasing an additional 34,466 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Century Therapeutics in the 2nd quarter valued at approximately $38,000. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

Century Therapeutics Trading Up 1.9%

IPSC stock opened at $2.17 on Thursday. The company has a market capitalization of $391.37 million, a price-to-earnings ratio of -1.90 and a beta of 1.55. Century Therapeutics, Inc. has a 52 week low of $0.44 and a 52 week high of $3.04. The firm's 50-day moving average is $2.28 and its two-hundred day moving average is $2.16.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.04. On average, equities research analysts predict that Century Therapeutics, Inc. will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Century Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Century Therapeutics in a report on Thursday, July 2nd. Mizuho assumed coverage on shares of Century Therapeutics in a research note on Wednesday, May 27th. They set an "outperform" rating and a $8.00 price objective on the stock. Finally, HC Wainwright raised their price objective on shares of Century Therapeutics from $2.00 to $5.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $4.75.

Century Therapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.