Seven Fleet Capital Management LP Takes $10.65 Billion Position in Century Therapeutics, Inc. $IPSC

Seven Fleet Capital Management LP bought a new stake in Century Therapeutics, Inc. (NASDAQ:IPSC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,347,826 shares of the company’s stock, valued at approximately $10,652,174,000. Century Therapeutics accounts for about 1.8% of Seven Fleet Capital Management LP’s portfolio, making the stock its 11th largest position. Seven Fleet Capital Management LP owned 2.41% of Century Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Venture Management LLC acquired a new stake in Century Therapeutics during the 1st quarter worth about $27,495,000. Commodore Capital LP acquired a new position in shares of Century Therapeutics in the first quarter valued at about $19,652,000. BlackRock Inc. purchased a new position in shares of Century Therapeutics in the second quarter worth about $19,825,000. Trails Edge Capital Partners LP acquired a new stake in shares of Century Therapeutics during the second quarter worth about $10,130,674,000. Finally, Spruce Street Capital LP boosted its position in Century Therapeutics by 185.5% in the first quarter. Spruce Street Capital LP now owns 4,059,054 shares of the company’s stock valued at $9,173,000 after buying an additional 2,637,522 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on IPSC. Wall Street Zen lowered shares of 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 assumed coverage on shares of Century Therapeutics in a report on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 price target on the stock. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Century Therapeutics currently has an average rating of “Hold” and a consensus target price of $4.75.

Century Therapeutics Stock Down 1.4%

NASDAQ:IPSC opened at $2.14 on Thursday. Century Therapeutics, Inc. has a 52 week low of $0.44 and a 52 week high of $3.04. The stock’s 50-day moving average price is $2.17 and its 200-day moving average price is $2.22. The stock has a market capitalization of $387.49 million, a PE ratio of -2.30 and a beta of 1.57.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). Sell-side analysts expect that Century Therapeutics, Inc. will post -0.47 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.