Rock Springs Capital Management LP Takes $2.95 Million Position in Century Therapeutics, Inc. $IPSC

Key Points

• Rock Springs Capital Management acquired 1.30 million shares of Century Therapeutics, worth approximately $2.95 million and representing a 0.72% stake. Institutional investors collectively own 50.2% of the company.
• Analyst sentiment is mixed: HC Wainwright and Mizuho issued bullish ratings with price targets of $5 and $8, while other firms maintained or assigned sell ratings. The stock has an average rating of “Hold” and a consensus target of $4.75.
• Century Therapeutics shares opened at $2.09, compared with a 52-week range of $0.44 to $3.04. The clinical-stage biotech recently reported a quarterly loss of $0.11 per share, beating the consensus estimate of a $0.15 loss.

Rock Springs Capital Management LP bought a new stake in Century Therapeutics, Inc. (NASDAQ:IPSC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 1,304,347 shares of the company's stock, valued at approximately $2,948,000. Rock Springs Capital Management LP owned 0.72% of Century Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Venture Management LLC purchased a new position in Century Therapeutics in the first quarter valued at $27,495,000. Spruce Street Capital LP purchased a new stake in shares of Century Therapeutics during the 4th quarter worth about $1,414,000. Commodore Capital LP acquired a new stake in shares of Century Therapeutics during the 1st quarter valued at about $19,652,000. Cannon Global Investment Management LLC acquired a new stake in shares of Century Therapeutics during the 1st quarter valued at about $111,000. Finally, Quadrant Private Wealth Management LLC increased its stake in shares of Century Therapeutics by 31.0% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company's stock valued at $45,000 after purchasing an additional 4,736 shares in the last quarter. Institutional investors and hedge funds own 50.20% of the company's stock.

Wall Street Analyst Weigh In

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

Century Therapeutics Stock Down 0.9%

Shares of NASDAQ IPSC opened at $2.09 on Tuesday. The company's 50-day simple moving average is $2.26 and its 200-day simple moving average is $2.22. Century Therapeutics, Inc. has a 52-week low of $0.44 and a 52-week high of $3.04. The firm has a market cap of $376.93 million, a price-to-earnings ratio of -1.83 and a beta of 1.55.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. Equities research analysts anticipate that Century Therapeutics, Inc. will post -0.43 EPS for the current fiscal 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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