Century Therapeutics Stages Highest Single Day Move In 11 Months As Casdin Capital Bumps Its Stake To 5.4%

Shares of Century Therapeutics Inc (NASDAQ:IPSC) zoomed by 20.74% to $1.63 per share on Wednesday, which is the highest price move in nearly a month since Oct. 1. The shares also rose the most in over 11 months since Dec. 6, 2023, in a single day.

Also read: Trump’s Tariff Threat To Canada May Disrupt Oil Markets, Inflate Prices: ‘Would Likely Raise The Price Of Fuels,’ Says Analyst

What Happened: On Wednesday, Casdin Capital acquired an additional 1,380,000 shares in Century Therapeutics raising its stake by nearly 43% in the biotechnology company, as per an SEC filing.

After the transaction, Casdin Capital owns a total of 4,592,316 shares, or 5.4% in Century Therapeutics. According to the filing, Century shares were acquired for $1.35 apiece. Century Therapeutics represents 0.12% of Casdin’s portfolio after the transaction.

Why It Matters: Century shares jumped by nearly 21%, the most in a single day since Dec. 6, 2023, when it had jumped by 36% after the transaction.

Casdin Capital, LLC, a New York-based investment firm, specializes in biotechnology investments. With a $1.5 billion equity portfolio, its top holdings include BioLife Solutions Inc (BLFS) and Sarepta Therapeutics Inc (SRPT).

Image via Unsplash

Read Next:

• Michael Saylor’s MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?