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

Century Therapeutics, Inc. (NASDAQ:IPSC) was the recipient of a large growth in short interest in the month of 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. Approximately 10.2% of the company’s stock are short sold. Based on an average daily volume of 371,800 shares, the days-to-cover ratio is currently 9.5 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IPSC shares. Chardan Capital lowered their price target on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. HC Wainwright reduced their price objective on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Rodman & Renshaw began coverage on Century Therapeutics in a research note on Thursday, August 8th. They issued a “buy” rating and a $6.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $11.60.

Institutional Investors Weigh In On Century Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in Century Therapeutics by 6.1% in the second quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock valued at $422,000 after acquiring an additional 9,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Century Therapeutics during the first quarter valued at approximately $47,000. Vanguard Group Inc. lifted its holdings in shares of Century Therapeutics by 1.2% during 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 last quarter. SG Americas Securities LLC purchased a new position in shares of Century Therapeutics during the third quarter valued at approximately $27,000. Finally, Rhumbline Advisers lifted 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 valued at $134,000 after purchasing an additional 18,828 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Stock Performance

Shares of NASDAQ IPSC opened at $1.25 on Tuesday. Century Therapeutics has a fifty-two week low of $1.14 and a fifty-two week high of $5.51. The stock has a market cap of $106.29 million, a price-to-earnings ratio of -0.68 and a beta of 1.41. The firm’s 50-day simple moving average is $1.48 and its 200 day simple moving average is $2.14.

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

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.