Spruce Street Capital LP Acquires 2,637,522 Shares of Century Therapeutics, Inc. $IPSC

Key Points

• Spruce Street Capital LP increased its stake in Century Therapeutics by 185.5% in the first quarter, buying 2,637,522 additional shares and bringing its total holdings to 4,059,054 shares worth about $9.17 million.
• Several other institutional investors also adjusted their positions, and institutional ownership now stands at 50.20% of the stock.
• Analyst sentiment is mixed: HC Wainwright and Mizuho have bullish ratings with higher price targets, while others are more cautious, leaving the consensus rating at Hold with an average target price of $4.75.

Spruce Street Capital LP raised its holdings in shares of Century Therapeutics, Inc. (NASDAQ:IPSC - Free Report) by 185.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,059,054 shares of the company's stock after buying an additional 2,637,522 shares during the period. Century Therapeutics comprises approximately 2.2% of Spruce Street Capital LP's portfolio, making the stock its 17th largest position. Spruce Street Capital LP owned about 2.25% of Century Therapeutics worth $9,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Venture Management LLC purchased a new position in shares of Century Therapeutics in the first quarter worth about $27,495,000. Adage Capital Partners GP L.L.C. purchased a new stake in Century Therapeutics during the 4th quarter valued at about $1,829,000. Two Sigma Investments LP grew its position in Century Therapeutics by 59.2% during the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company's stock worth $454,000 after acquiring an additional 338,902 shares during the last quarter. Geode Capital Management LLC grew its position 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 during the last quarter. Finally, Jane Street Group LLC bought a new position in Century Therapeutics during the 2nd quarter worth approximately $248,000. 50.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IPSC has been the subject of several recent research reports. HC Wainwright boosted their price objective on Century Therapeutics from $2.00 to $5.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Century Therapeutics in a report on Thursday, July 2nd. Mizuho started coverage on shares of Century Therapeutics in a research note on Wednesday, May 27th. They issued an "outperform" rating and a $8.00 target price on the stock. Finally, Wall Street Zen lowered shares of Century Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.75.

Century Therapeutics Price Performance

Shares of NASDAQ:IPSC opened at $2.11 on Friday. Century Therapeutics, Inc. has a 1 year low of $0.44 and a 1 year high of $3.04. The company has a market cap of $380.54 million, a PE ratio of -1.85 and a beta of 1.55. The stock's 50-day moving average is $2.26 and its 200 day moving average is $2.21.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last released its quarterly earnings data 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. Analysts expect that Century Therapeutics, Inc. will post -0.43 EPS for the current fiscal 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.

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