Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Declines By 5.6%

Century Therapeutics, Inc. (NASDAQ:IPSC) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 2,710,000 shares, a drop of 5.6% from the November 30th total of 2,870,000 shares. Approximately 7.8% of the shares of the stock are sold short. Based on an average daily volume of 545,600 shares, the short-interest ratio is currently 5.0 days.

Analyst Ratings Changes

A number of analysts have commented on the company. HC Wainwright decreased their target price on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Chardan Capital lowered their price objective 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, Piper Sandler cut their target price on shares of Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating for the company in a research report on Monday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $10.00.

Century Therapeutics Stock Up 1.0 %

IPSC opened at $1.01 on Thursday. The firm has a market cap of $85.88 million, a P/E ratio of -0.55 and a beta of 1.65. The business’s fifty day simple moving average is $1.31 and its 200 day simple moving average is $1.74. Century Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.08. The company had revenue of $0.79 million for the quarter, compared to analysts’ expectations 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 last year, the company earned ($0.55) EPS. As a group, equities analysts expect that Century Therapeutics will post -1.63 EPS for the current fiscal year.

Institutional Trading of Century Therapeutics

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Century Therapeutics during the 3rd quarter worth $27,000. Barclays PLC increased 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 purchasing an additional 45,797 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Century Therapeutics by 257.6% during the third quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company’s stock worth $123,000 after buying an additional 51,664 shares during the period. Rhumbline Advisers boosted its stake in Century Therapeutics by 56.0% in 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 last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Century Therapeutics by 141.7% in the 2nd 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 during the period. Institutional investors and hedge funds 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.