Spruce Street Capital LP Acquires Shares of 4,059,054 Century Therapeutics, Inc. $IPSC

Spruce Street Capital LP bought a new stake in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,059,054 shares of the company’s stock, valued at approximately $9,944,682,000. Century Therapeutics comprises approximately 2.0% of Spruce Street Capital LP’s portfolio, making the stock its 16th largest holding. Spruce Street Capital LP owned approximately 2.25% of Century Therapeutics at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Prudential Financial Inc. bought a new position in shares of Century Therapeutics in the 2nd quarter worth $25,000. Bank of New York Mellon Corp bought a new stake in Century Therapeutics in the first quarter valued at about $29,000. Qube Research & Technologies Ltd acquired a new position in Century Therapeutics in the second quarter valued at about $38,000. Quadrant Private Wealth Management LLC lifted its stake in 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 period. Finally, Raymond James Financial Inc. bought a new position in Century Therapeutics during the second quarter worth about $51,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Mizuho initiated coverage on Century Therapeutics in a research note on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 price target for the company. Wall Street Zen lowered shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Century Therapeutics in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.75.

Century Therapeutics Stock Performance

NASDAQ:IPSC opened at $2.12 on Tuesday. The company has a market cap of $383.88 million, a PE ratio of -2.28 and a beta of 1.57. Century Therapeutics, Inc. has a 52-week low of $0.44 and a 52-week high of $3.04. The stock has a 50-day simple moving average of $2.17 and a 200 day simple moving average of $2.21.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Wednesday, August 12th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.06). On average, research analysts predict that Century Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Century Therapeutics 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.