Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Grows By 148.0%

Century Therapeutics, Inc. (NASDAQ:IPSC) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 807,117 shares, a growth of 148.0% from the December 31st total of 325,386 shares. Based on an average daily volume of 3,991,795 shares, the short-interest ratio is presently 0.2 days. Approximately 1.0% of the shares of the company are short sold. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 3,991,795 shares, the short-interest ratio is presently 0.2 days.

Insider Activity at Century Therapeutics

In other Century Therapeutics news, CEO Brent Pfeiffenberger acquired 52,000 shares of Century Therapeutics stock in a transaction dated Friday, December 12th. The stock was bought at an average cost of $0.58 per share, with a total value of $30,160.00. Following the completion of the transaction, the chief executive officer owned 3,322,990 shares of the company’s stock, valued at $1,927,334.20. The trade was a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chad Cowan acquired 58,060 shares of Century Therapeutics stock in a transaction dated Monday, December 22nd. The stock was acquired at an average cost of $0.85 per share, with a total value of $49,351.00. Following the completion of the transaction, the insider directly owned 1,045,087 shares of the company’s stock, valued at $888,323.95. This trade represents a 5.88% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 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 corporate insiders.

Institutional Trading of Century Therapeutics

Hedge funds have recently modified their holdings of the company. Prudential Financial Inc. acquired a new stake in Century Therapeutics during the 2nd quarter valued at $25,000. Bank of America Corp DE boosted its stake in Century Therapeutics by 109.1% in the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after purchasing an additional 34,466 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Century Therapeutics during the second quarter worth $38,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Century Therapeutics in the second quarter valued at $50,000. Finally, Raymond James Financial Inc. bought a new position in shares of Century Therapeutics in the second quarter valued at about $51,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

Century Therapeutics Price Performance

Shares of Century Therapeutics stock traded down $0.35 during midday trading on Thursday, hitting $2.01. 1,498,227 shares of the company were exchanged, compared to its average volume of 3,049,969. The firm has a 50 day simple moving average of $1.17 and a 200-day simple moving average of $0.76. The firm has a market cap of $175.68 million, a P/E ratio of -6.28 and a beta of 1.72. Century Therapeutics has a 52 week low of $0.34 and a 52 week high of $2.71.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Equities research analysts expect that Century Therapeutics will post -1.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Piper Sandler lifted their target price on Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Leerink Partners lowered Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Wall Street Zen upgraded Century Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, January 24th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Century Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.80.

About Century Therapeutics

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.