Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Expands By 6.4%

Century Therapeutics, Inc. (NASDAQ:IPSC) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 3,490,000 shares, a growth of 6.4% from the September 15th total of 3,280,000 shares. Approximately 10.8% of the shares of the company are sold short. Based on an average daily trading volume, of 331,100 shares, the short-interest ratio is currently 10.5 days.

Analyst Ratings Changes

IPSC has been the topic of several analyst reports. HC Wainwright dropped their price target on shares of Century Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Rodman & Renshaw started coverage on shares of Century Therapeutics in a research note on Thursday, August 8th. They set a “buy” rating and a $6.00 target price for the company.

Century Therapeutics Stock Performance

Shares of Century Therapeutics stock opened at $1.57 on Friday. The company has a market cap of $132.67 million, a P/E ratio of -0.71 and a beta of 1.36. The stock has a 50-day moving average price of $1.61 and a 200 day moving average price of $2.46. Century Therapeutics has a 1 year low of $1.28 and a 1 year high of $5.51.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. lifted its holdings in shares of 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. Bank of New York Mellon Corp boosted its holdings in Century Therapeutics by 110.1% in the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after acquiring an additional 78,088 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Century Therapeutics by 141.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after acquiring an additional 44,155 shares during the period. Rhumbline Advisers grew its position in shares of Century Therapeutics by 56.0% during the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock worth $134,000 after buying an additional 18,828 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Century Therapeutics in the 3rd quarter valued at $27,000. Institutional investors own 50.20% of the company’s stock.

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.