Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Rises By 32.1%

Century Therapeutics, Inc. (NASDAQ:IPSC) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 325,386 shares, a growth of 32.1% from the December 15th total of 246,333 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 1,916,134 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 1,916,134 shares, the short-interest ratio is currently 0.2 days. Currently, 0.4% of the company’s stock are short sold.

Century Therapeutics Stock Down 5.7%

Shares of IPSC stock opened at $2.17 on Friday. The stock’s 50-day moving average price is $0.89 and its 200 day moving average price is $0.67. The stock has a market capitalization of $189.66 million, a PE ratio of -6.78 and a beta of 1.72. Century Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.32.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Thursday, November 13th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.07. Analysts expect that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, CEO Brent Pfeiffenberger acquired 52,000 shares of the stock in a transaction dated Friday, December 12th. The stock was acquired at an average cost of $0.58 per share, with a total value of $30,160.00. Following the transaction, the chief executive officer owned 3,322,990 shares in the company, valued at $1,927,334.20. The trade was a 1.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad Cowan acquired 58,060 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was acquired at an average price of $0.85 per share, for a total transaction of $49,351.00. Following the acquisition, the insider owned 1,045,087 shares in the company, valued at approximately $888,323.95. The trade was a 5.88% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 145,060 shares of company stock valued at $97,011 and have sold 65,987 shares valued at $29,798. 4.37% of the stock is owned by insiders.

Institutional Trading of Century Therapeutics

Several hedge funds have recently made changes to their positions in IPSC. Prudential Financial Inc. acquired a new position in shares of Century Therapeutics during the second quarter worth about $25,000. Qube Research & Technologies Ltd purchased a new stake in Century Therapeutics in the 2nd quarter valued at approximately $38,000. Y Intercept Hong Kong Ltd acquired a new position in Century Therapeutics during the 2nd quarter worth approximately $50,000. Raymond James Financial Inc. acquired a new position in Century Therapeutics during the 2nd quarter worth approximately $51,000. Finally, AQR Capital Management LLC raised its stake in shares of Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after buying an additional 86,875 shares in the last quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Leerink Partners reaffirmed a “market perform” rating and issued a $2.00 target price (down from $7.00) on shares of Century Therapeutics in a research report on Monday, November 17th. Leerink Partnrs lowered Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Century Therapeutics in a research report on Wednesday, October 8th. Zacks Research raised Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Wall Street Zen lowered Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.40.

Century Therapeutics Company Profile

Century Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of allogeneic cell therapies for cancer. Utilizing induced pluripotent stem cell (iPSC) technology, the company engineers “off-the-shelf” natural killer (NK) and T cell candidates designed to target hematologic malignancies and solid tumors. By harnessing iPSC-derived immune cells, Century aims to overcome challenges associated with patient-derived therapies, such as manufacturing variability and treatment delays.

The company’s proprietary platform integrates gene editing, synthetic biology and scalable cell expansion processes to generate a pipeline of product candidates.