Century Therapeutics, Inc. (NASDAQ:IPSC) Short Interest Up 320.2% in January

Century Therapeutics, Inc. (NASDAQ:IPSC) was the target of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 3,391,589 shares, an increase of 320.2% from the January 15th total of 807,117 shares. Currently, 4.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,809,997 shares, the days-to-cover ratio is currently 1.9 days. Based on an average daily trading volume, of 1,809,997 shares, the days-to-cover ratio is currently 1.9 days. Currently, 4.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

IPSC has been the topic of several analyst reports. Leerink Partners downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Wall Street Zen lowered Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 1st. Piper Sandler boosted their price target on Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, Zacks Research raised Century Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Century Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.80.

Century Therapeutics Stock Performance

Shares of Century Therapeutics stock traded down $0.11 during trading on Wednesday, reaching $1.83. The company had a trading volume of 601,189 shares, compared to its average volume of 2,444,793. Century Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.71. The firm’s fifty day moving average is $1.41 and its 200-day moving average is $0.84. The company has a market cap of $159.51 million, a price-to-earnings ratio of -5.70 and a beta of 1.75.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. On average, research analysts anticipate that Century Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity at Century Therapeutics

In other news, insider Chad Cowan acquired 58,060 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were bought at an average price of $0.85 per share, for a total transaction of $49,351.00. Following the completion of the purchase, the insider directly owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. This trade represents a 5.88% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brent Pfeiffenberger bought 52,000 shares of Century Therapeutics stock in a transaction dated Friday, December 12th. The shares were purchased at an average cost of $0.58 per share, for a total transaction 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 approximately $1,927,334.20. This represents a 1.59% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 145,060 shares of company stock worth $97,011 and have sold 66,018 shares worth $30,213. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Century Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. bought a new position in Century Therapeutics during the second quarter worth $25,000. Bank of America Corp DE increased its stake in Century Therapeutics by 109.1% during the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock valued at $67,000 after purchasing an additional 34,466 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Century Therapeutics during the second quarter worth $38,000. Y Intercept Hong Kong Ltd bought a new position in shares of Century Therapeutics in the 2nd quarter worth about $50,000. Finally, Raymond James Financial Inc. bought a new position in shares of Century Therapeutics in the 2nd quarter worth about $51,000. 50.20% of the stock is currently owned by institutional investors.

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.