Century Therapeutics, Inc. (NASDAQ:IPSC) Sees Large Growth in Short Interest

Century Therapeutics, Inc. (NASDAQ:IPSC) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,280,000 shares, an increase of 15.9% from the August 31st total of 2,830,000 shares. Based on an average daily volume of 338,700 shares, the short-interest ratio is currently 9.7 days. Approximately 10.1% of the company’s stock are sold short.

Century Therapeutics Trading Up 6.2 %

Shares of NASDAQ IPSC traded up $0.10 during trading hours on Monday, reaching $1.71. The stock had a trading volume of 535,563 shares, compared to its average volume of 244,853. The firm has a market cap of $144.50 million, a price-to-earnings ratio of -0.77 and a beta of 1.36. Century Therapeutics has a fifty-two week low of $1.28 and a fifty-two week high of $5.51. The firm has a 50-day moving average of $1.78 and a 200-day moving average of $2.70.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Thursday, August 8th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.12. Century Therapeutics had a negative net margin of 6,434.23% and a negative return on equity of 60.60%. The business had revenue of $0.77 million for the quarter, compared to analysts’ expectations of $0.55 million. On average, equities analysts predict that Century Therapeutics will post -1.8 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler increased their price objective on Century Therapeutics from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Rodman & Renshaw started coverage on shares of Century Therapeutics in a research note on Thursday, August 8th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, HC Wainwright cut their price objective on shares of Century Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Avidity Partners Management LP grew its holdings in shares of Century Therapeutics by 23.4% during the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock worth $4,499,000 after buying an additional 256,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Century Therapeutics during the 1st quarter valued at approximately $47,000. Jacobs Levy Equity Management Inc. lifted its position in Century Therapeutics by 191.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock worth $1,229,000 after acquiring an additional 192,915 shares during the period. Vanguard Group Inc. increased its holdings in shares of Century Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock valued at $4,760,000 after purchasing an additional 14,000 shares during the period. Finally, Abel Hall LLC purchased a new stake in shares of Century Therapeutics during the fourth quarter worth approximately $33,000. 50.20% of the stock is currently owned by institutional investors and hedge funds.

Century Therapeutics Company Profile

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.