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

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

Institutional Trading of Century Therapeutics

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Century Therapeutics in the 1st quarter worth about $47,000. Vanguard Group Inc. raised its stake in Century Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock valued at $4,760,000 after acquiring an additional 14,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted 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. Bank of New York Mellon Corp lifted 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 worth $380,000 after purchasing an additional 78,088 shares during the period. Finally, Rhumbline Advisers grew its position in Century Therapeutics by 56.0% in the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after buying an additional 18,828 shares in the last quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

Century Therapeutics Stock Up 2.5 %

Shares of NASDAQ:IPSC traded up $0.03 during trading on Monday, hitting $1.25. 428,769 shares of the company traded hands, compared to its average volume of 268,042. The stock has a market capitalization of $106.29 million, a price-to-earnings ratio of -0.69 and a beta of 1.41. Century Therapeutics has a one year low of $1.14 and a one year high of $5.51. The business’s fifty day moving average is $1.49 and its 200-day moving average is $2.15.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. The firm had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.47 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. During the same period in the prior year, the business earned ($0.55) EPS. On average, analysts forecast that Century Therapeutics will post -1.63 EPS for the current year.

Analyst Ratings Changes

IPSC has been the subject of several research analyst reports. HC Wainwright dropped 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 price objective on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Rodman & Renshaw assumed 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Century Therapeutics currently has an average rating of “Buy” and a consensus price target of $11.60.

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.