BlackRock Inc. Makes New $19.82 Million Investment in Century Therapeutics, Inc. $IPSC

Key Points

• BlackRock acquired 8.09 million shares of Century Therapeutics in the second quarter, valued at approximately $19.82 million and representing a 4.49% stake.
• Several other institutional investors also initiated positions, contributing to institutional ownership of 50.20% of IPSC shares.
• Analyst sentiment is mixed, with an overall “Hold” rating and a consensus price target of $4.75. Century reported a quarterly loss of $0.17 per share, missing estimates by $0.06.

BlackRock Inc. bought a new stake in shares of Century Therapeutics, Inc. (NASDAQ:IPSC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,091,768 shares of the company's stock, valued at approximately $19,825,000. BlackRock Inc. owned 4.49% of Century Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in IPSC. Seven Fleet Capital Management LP bought a new position in Century Therapeutics during the first quarter valued at approximately $9,826,000. Commodore Capital LP purchased a new stake in Century Therapeutics in the first quarter worth approximately $19,652,000. Rock Springs Capital Management LP bought a new stake in Century Therapeutics in the 1st quarter worth approximately $2,948,000. Versant Venture Management LLC bought a new stake in Century Therapeutics in the 1st quarter worth approximately $27,495,000. Finally, DV Trading LLC purchased a new stake in Century Therapeutics during the 1st quarter valued at $3,164,000. Hedge funds and other institutional investors own 50.20% of the company's stock.

Wall Street Analyst Weigh In

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

Century Therapeutics Stock Performance

IPSC opened at $2.11 on Thursday. The stock has a market cap of $382.07 million, a price-to-earnings ratio of -2.27 and a beta of 1.59. The firm's fifty day moving average is $2.15 and its 200 day moving average is $2.23. Century Therapeutics, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $3.04.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last issued its quarterly 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). On average, equities research analysts predict that Century Therapeutics, Inc. will post -0.47 earnings per share for the current year.

Century Therapeutics Company 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.

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