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

Century Therapeutics, Inc. (NASDAQ:IPSC) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,790,000 shares, an increase of 14.7% from the June 15th total of 1,560,000 shares. Currently, 5.2% of the company’s stock are short sold. Based on an average daily volume of 202,000 shares, the days-to-cover ratio is currently 8.9 days.

Wall Street Analysts Forecast Growth

IPSC has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Century Therapeutics from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of Century Therapeutics in a research report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Avidity Partners Management LP raised its stake in shares of Century Therapeutics by 23.4% during the 4th quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock worth $4,499,000 after buying an additional 256,500 shares during the last quarter. Abel Hall LLC acquired a new position in Century Therapeutics in the 4th quarter valued at about $33,000. Vanguard Group Inc. raised its stake in Century Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock valued at $4,760,000 after purchasing an additional 14,000 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Century Therapeutics by 191.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock valued at $1,229,000 after purchasing an additional 192,915 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Century Therapeutics in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

Century Therapeutics Price Performance

Shares of NASDAQ IPSC traded down $0.29 during trading on Wednesday, hitting $3.00. 195,022 shares of the company were exchanged, compared to its average volume of 212,893. The company has a market cap of $253.50 million, a price-to-earnings ratio of -1.35 and a beta of 1.40. Century Therapeutics has a 1 year low of $1.28 and a 1 year high of $5.51. The firm’s fifty day moving average price is $2.89 and its 200 day moving average price is $3.59.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.05. The business had revenue of $0.86 million during the quarter, compared to the consensus estimate of $0.30 million. Century Therapeutics had a negative return on equity of 59.74% and a negative net margin of 9,742.41%. On average, research analysts forecast that Century Therapeutics will post -1.94 earnings per share 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.