Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Rises By 19.3%

Century Therapeutics, Inc. (NASDAQ:IPSC) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 10,289,543 shares, a growth of 19.3% from the March 15th total of 8,626,834 shares. Based on an average daily volume of 1,839,949 shares, the days-to-cover ratio is currently 5.6 days. Approximately 6.0% of the company’s shares are sold short.

Insider Activity

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of Century Therapeutics stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $2.55, for a total transaction of $25,693.80. Following the transaction, the insider directly owned 515,427 shares of the company’s stock, valued at $1,314,338.85. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 17,921 shares of company stock valued at $45,458 over the last ninety days. Corporate insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Century Therapeutics in the 2nd quarter valued at about $51,000. AQR Capital Management LLC grew its position in shares of Century Therapeutics by 358.9% during the first 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. Marshall Wace LLP purchased a new stake in shares of Century Therapeutics during the second quarter worth approximately $78,000. Goldman Sachs Group Inc. increased its stake in shares of Century Therapeutics by 26.9% during the first quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock worth $86,000 after buying an additional 38,052 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Century Therapeutics in the second quarter valued at approximately $248,000. 50.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IPSC shares. Zacks Research downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Century Therapeutics in a report on Monday, April 6th. Piper Sandler boosted their target price on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Wall Street Zen upgraded Century Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, TD Cowen initiated coverage on Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating for the company. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

Century Therapeutics Price Performance

Shares of IPSC stock traded up $0.16 during trading on Friday, reaching $2.60. The company’s stock had a trading volume of 1,905,104 shares, compared to its average volume of 1,577,701. Century Therapeutics has a 1-year low of $0.44 and a 1-year high of $3.04. The stock’s 50-day moving average price is $2.25 and its 200 day moving average price is $1.42. The company has a market capitalization of $467.27 million, a price-to-earnings ratio of -18.57 and a beta of 1.66.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. On average, sell-side analysts anticipate that Century Therapeutics will post -1.61 EPS for the current fiscal year.

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.