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

Century Therapeutics, Inc. (NASDAQ:IPSC) was the target of a significant drop in short interest during the month of 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 company are sold short. Based on an average trading volume of 545,600 shares, the short-interest ratio is presently 5.0 days.

Century Therapeutics Stock Performance

Shares of IPSC opened at $1.01 on Wednesday. Century Therapeutics has a 1 year low of $0.95 and a 1 year high of $5.51. The stock has a market capitalization of $85.88 million, a P/E ratio of -0.55 and a beta of 1.65. The company’s fifty day moving average is $1.31 and its two-hundred day moving average is $1.74.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. The business had revenue of $0.79 million for the quarter, compared to analyst estimates 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 in the previous year, the business posted ($0.55) earnings per share. Sell-side analysts predict that Century Therapeutics will post -1.63 EPS for the current year.

Wall Street Analyst Weigh In

IPSC has been the subject of several research reports. Piper Sandler reduced their price target 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. Chardan Capital reduced their target price on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, HC Wainwright lowered their price target on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.00.

Hedge Funds Weigh In On Century Therapeutics

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 51,664 shares during the period. Barclays PLC boosted its position in shares of Century Therapeutics by 283.6% during the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock worth $106,000 after purchasing an additional 45,797 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Century Therapeutics by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock worth $1,656,000 after purchasing an additional 32,614 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Century Therapeutics in the third quarter valued at about $284,000. Finally, State Street Corp boosted its holdings in Century Therapeutics by 7.4% during the third quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after buying an additional 57,323 shares in the last quarter. 50.20% of the stock is owned by hedge funds and other institutional investors.

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.