BlackRock Inc. Acquires Shares of 8,091,768 Century Therapeutics, Inc. $IPSC

BlackRock Inc. acquired a new stake in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 8,091,768 shares of the company’s stock, valued at approximately $19,825,000.

Other hedge funds have also recently modified their holdings of the company. Seven Fleet Capital Management LP bought a new position in shares of Century Therapeutics during the first quarter worth $9,826,000. Commodore Capital LP purchased a new position in Century Therapeutics during the first quarter valued at $19,652,000. Rock Springs Capital Management LP bought a new stake in Century Therapeutics in the 1st quarter valued at $2,948,000. Versant Venture Management LLC bought a new stake in Century Therapeutics in the 1st quarter valued at $27,495,000. Finally, DV Trading LLC purchased a new stake in Century Therapeutics in the 1st quarter worth $3,164,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on IPSC shares. Mizuho initiated coverage on shares of Century Therapeutics in a report on Wednesday, May 27th. They set an “outperform” rating and a $8.00 price objective for the company. 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 research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.75.

Century Therapeutics Trading Up 3.9%

Shares of NASDAQ:IPSC opened at $2.11 on Thursday. Century Therapeutics, Inc. has a 12 month low of $0.44 and a 12 month high of $3.04. The company has a 50-day moving average price of $2.15 and a 200 day moving average price of $2.23. The company has a market cap of $382.07 million, a price-to-earnings ratio of -2.27 and a beta of 1.59.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). As a group, equities analysts forecast that Century Therapeutics, Inc. will post -0.47 EPS for the current 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.