Century Therapeutics, Inc. (NASDAQ:IPSC) Short Interest Update

Century Therapeutics, Inc. (NASDAQ:IPSC) was the recipient of a large growth in short interest during 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 short-interest ratio is presently 9.5 days. Approximately 10.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IPSC. HC Wainwright dropped their price target on 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 reduced their target price on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Rodman & Renshaw started coverage on Century Therapeutics in a report on Thursday, August 8th. They issued a “buy” rating and a $6.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.60.

Institutional Investors Weigh In On Century Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Century Therapeutics during the first quarter valued at about $47,000. SG Americas Securities LLC purchased a new position in Century Therapeutics in the third quarter valued at about $27,000. Rhumbline Advisers grew its stake in Century Therapeutics by 56.0% during the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after purchasing an additional 18,828 shares in the last quarter. Barclays PLC grew its stake in Century Therapeutics by 283.6% during the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock valued at $106,000 after purchasing an additional 45,797 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Century Therapeutics by 141.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after purchasing an additional 44,155 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Price Performance

NASDAQ IPSC traded up $0.03 during trading hours on Monday, hitting $1.25. The company had a trading volume of 428,769 shares, compared to its average volume of 268,042. The firm’s 50 day moving average is $1.49 and its 200 day moving average is $2.15. Century Therapeutics has a fifty-two week low of $1.14 and a fifty-two week high of $5.51. The company has a market capitalization of $106.29 million, a price-to-earnings ratio of -0.69 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 analysts’ consensus estimates of ($0.45) by $0.08. The firm had revenue of $0.79 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned ($0.55) EPS. On average, equities analysts anticipate 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.