Century Therapeutics, Inc. (NASDAQ:IPSC) Short Interest Update

Century Therapeutics, Inc. (NASDAQ:IPSC) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 3,090,000 shares, a growth of 14.0% from the December 15th total of 2,710,000 shares. Based on an average daily trading volume, of 560,600 shares, the days-to-cover ratio is presently 5.5 days. Approximately 8.9% of the shares of the stock are sold short.

Century Therapeutics Price Performance

Shares of IPSC traded up $0.00 during mid-day trading on Friday, reaching $0.91. 373,338 shares of the company were exchanged, compared to its average volume of 547,848. Century Therapeutics has a 52 week low of $0.87 and a 52 week high of $5.51. The business has a 50 day simple moving average of $1.21 and a two-hundred day simple moving average of $1.59.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. The company had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.47 million. During the same period last year, the company earned ($0.55) earnings per share. As a group, equities research analysts anticipate that Century Therapeutics will post -1.63 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on IPSC. Piper Sandler reduced their price objective on Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating on the stock in a research note on Monday, December 30th. Chardan Capital dropped their target price on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, HC Wainwright dropped their target price on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $10.00.

Institutional Investors Weigh In On Century Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Century Therapeutics in the third quarter worth approximately $27,000. Barclays PLC grew its stake in Century Therapeutics by 283.6% in the third quarter. Barclays PLC now owns 61,945 shares of the company’s stock valued at $106,000 after acquiring an additional 45,797 shares during the period. JPMorgan Chase & Co. grew its stake in Century Therapeutics by 257.6% in the third quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company’s stock valued at $123,000 after acquiring an additional 51,664 shares during the period. Rhumbline Advisers grew its stake in Century Therapeutics by 56.0% in the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after acquiring an additional 18,828 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Century Therapeutics by 141.7% in the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after acquiring an additional 44,155 shares during the period. 50.20% of the stock is currently owned by institutional investors.

About Century Therapeutics

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.