Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Increases By 5.7%

Century Therapeutics, Inc. (NASDAQ:IPSC) was the target 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. Based on an average daily volume of 371,800 shares, the days-to-cover ratio is currently 9.5 days. Approximately 10.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. HC Wainwright decreased 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 note on Wednesday, November 6th. Chardan Capital decreased their price objective on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Rodman & Renshaw began 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 on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $11.60.

Hedge Funds Weigh In On Century Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in IPSC. Mirae Asset Global Investments Co. Ltd. acquired a new position in Century Therapeutics in the 1st quarter valued at $47,000. Jacobs Levy Equity Management Inc. raised its position in shares of Century Therapeutics by 191.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock valued at $1,229,000 after buying an additional 192,915 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Century Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock worth $4,760,000 after buying an additional 14,000 shares in the last quarter. Rhumbline Advisers boosted its position in 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 acquiring an additional 18,828 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Century Therapeutics during the third quarter worth about $27,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Trading Up 2.5 %

IPSC traded up $0.03 during midday trading on Monday, hitting $1.25. 428,769 shares of the company traded hands, compared to its average volume of 268,042. The business has a 50 day simple moving average of $1.49 and a two-hundred day simple moving average of $2.15. Century Therapeutics has a 52-week low of $1.14 and a 52-week high of $5.51. The company has a market capitalization of $106.29 million, a price-to-earnings ratio of -0.68 and a beta of 1.41.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, topping 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 firm had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.47 million. During the same quarter in the prior year, the firm earned ($0.55) EPS. Equities research analysts anticipate that Century Therapeutics will post -1.63 earnings per share for the current year.

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.