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

Century Therapeutics, Inc. (NASDAQ:IPSC) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 3,520,000 shares, a growth of 5.7% from the October 15th total of 3,330,000 shares. Currently, 10.2% of the company’s stock are sold short. Based on an average trading volume of 371,800 shares, the short-interest ratio is presently 9.5 days.

Analyst Ratings Changes

IPSC has been the subject of a number of research analyst reports. HC Wainwright cut their target price on shares of Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Chardan Capital lowered their target price on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Rodman & Renshaw assumed 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $11.60.

Century Therapeutics Stock Up 2.5 %

Century Therapeutics stock opened at $1.25 on Tuesday. The company’s 50-day moving average price is $1.48 and its 200-day moving average price is $2.14. Century Therapeutics has a twelve month low of $1.14 and a twelve month high of $5.51. The company has a market cap of $106.29 million, a PE ratio of -0.68 and a beta of 1.41.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.08. The company had revenue of $0.79 million for the quarter, compared to the consensus estimate of $0.47 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. During the same period in the prior year, the firm posted ($0.55) EPS. As a group, sell-side analysts expect that Century Therapeutics will post -1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Century Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Century Therapeutics in the 1st quarter worth approximately $47,000. SG Americas Securities LLC purchased a new position in shares of Century Therapeutics during the third quarter worth $27,000. Rhumbline Advisers raised its holdings in shares of Century Therapeutics by 56.0% during the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock worth $134,000 after purchasing an additional 18,828 shares during the last quarter. Barclays PLC raised its holdings in shares of Century Therapeutics by 283.6% during the third quarter. Barclays PLC now owns 61,945 shares of the company’s stock worth $106,000 after purchasing an additional 45,797 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings 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 buying an additional 44,155 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors.

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.