Rock Springs Capital Management LP Acquires Shares of 1,304,347 Century Therapeutics, Inc. $IPSC

Rock Springs Capital Management LP bought a new position in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,304,347 shares of the company’s stock, valued at approximately $2,948,000.

A number of other large investors have also modified their holdings of IPSC. Quadrant Private Wealth Management LLC raised its position in shares of Century Therapeutics by 31.0% in the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock valued at $45,000 after buying an additional 4,736 shares during the last quarter. Geode Capital Management LLC boosted its position in Century Therapeutics by 2.4% during the fourth 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. Bank of New York Mellon Corp acquired a new position in Century Therapeutics during the first quarter worth about $29,000. Bank of America Corp DE grew its stake in Century Therapeutics by 109.1% during the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock valued at $67,000 after acquiring an additional 34,466 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Century Therapeutics by 26.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock valued at $86,000 after acquiring an additional 38,052 shares in the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IPSC. Mizuho started coverage on shares of Century Therapeutics in a report on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 price objective for the company. HC Wainwright upped their price target 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 reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a report on Thursday, July 2nd. Finally, Wall Street Zen downgraded 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 stock. According to data from MarketBeat, Century Therapeutics currently has an average rating of “Hold” and a consensus price target of $4.75.

Century Therapeutics Trading Down 0.9%

Shares of IPSC opened at $2.09 on Tuesday. Century Therapeutics, Inc. has a 12-month low of $0.44 and a 12-month high of $3.04. The firm has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.22. The firm has a market capitalization of $376.93 million, a P/E ratio of -1.83 and a beta of 1.55.

Century Therapeutics (NASDAQ:IPSC) last issued its earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. Equities research analysts predict that Century Therapeutics, Inc. will post -0.43 earnings per share 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.