Seven Fleet Capital Management LP Invests $10.65 Million in Century Therapeutics, Inc. $IPSC

Key Points

• Seven Fleet Capital Management acquired 4.35 million Century Therapeutics shares worth approximately $10.65 million, representing about 2.41% of the company and becoming the firm’s 11th-largest position.
• Institutional ownership stands at 50.2%, with several investors increasing or initiating positions in Century Therapeutics during recent quarters.
• IPSC shares fell 9% to $2.03 after the company reported a quarterly loss of $0.17 per share, missing analyst expectations of a $0.11 loss; analysts collectively rate the stock “Hold,” with an average price target of $4.75.

Seven Fleet Capital Management LP acquired 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 Form 13F filing with the SEC. The firm acquired 4,347,826 shares of the company's stock, valued at approximately $10,652,174. Century Therapeutics makes up 0.0% of Seven Fleet Capital Management LP's portfolio, making the stock its 11th biggest position. Seven Fleet Capital Management LP owned approximately 2.41% of Century Therapeutics at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IPSC. Quadrant Private Wealth Management LLC increased its position in shares of Century Therapeutics by 31.0% during the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company's stock valued at $45,000 after acquiring an additional 4,736 shares in the last quarter. Geode Capital Management LLC lifted its stake in Century Therapeutics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 456,115 shares of the company's stock worth $454,000 after acquiring an additional 10,806 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Century Therapeutics during the 1st quarter worth $29,000. State of Wyoming acquired a new stake in Century Therapeutics during the 2nd quarter valued at $82,000. Finally, Bank of America Corp DE boosted its stake in shares of Century Therapeutics by 109.1% in the fourth 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 during the period. 50.20% of the stock is owned by institutional investors.

Century Therapeutics Stock Down 9.0%

Shares of IPSC traded down $0.20 during midday trading on Friday, reaching $2.03. 629,320 shares of the stock were exchanged, compared to its average volume of 1,370,229. The firm has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.22. The company has a market cap of $367.58 million, a price-to-earnings ratio of -2.18 and a beta of 1.57. Century Therapeutics, Inc. has a 12-month low of $0.44 and a 12-month high of $3.04.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). Research analysts expect that Century Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen downgraded Century Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Century Therapeutics in a research report on Thursday, July 2nd. Finally, Mizuho began coverage on shares of Century Therapeutics in a research report on Wednesday, May 27th. They issued an "outperform" rating and a $8.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Century Therapeutics presently has an average rating of "Hold" and an average target price of $4.75.

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.