Spruce Street Capital LP Boosts Holdings in Century Therapeutics, Inc. $IPSC

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

A number of other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new position in shares of Century Therapeutics in the 1st quarter worth approximately $122,000. Quadrant Private Wealth Management LLC lifted 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 during the period. Versant Venture Management LLC bought a new stake in shares of Century Therapeutics during the first quarter valued at approximately $27,495,000. Bank of New York Mellon Corp bought a new stake in shares of Century Therapeutics during the first quarter valued at approximately $29,000. Finally, Cannon Global Investment Management LLC purchased a new stake in Century Therapeutics in the first quarter worth $111,000. 50.20% of the stock is owned by institutional investors.

Century Therapeutics Stock Performance

Shares of NASDAQ IPSC opened at $2.11 on Friday. The company has a 50 day simple moving average of $2.26 and a two-hundred day simple moving average of $2.21. Century Therapeutics, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $3.04. The company has a market capitalization of $380.54 million, a price-to-earnings ratio of -1.85 and a beta of 1.55.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly 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. On average, analysts forecast that Century Therapeutics, Inc. will post -0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IPSC has been the subject of a number of research reports. Wall Street Zen downgraded Century Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Mizuho started coverage on shares of Century Therapeutics in a report on Wednesday, May 27th. They set an “outperform” rating and a $8.00 target price on the stock. HC Wainwright upped their target price on shares of Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a research report on Thursday, July 2nd. Four equities research 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 data from MarketBeat.com, Century Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $4.75.

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.