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

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

Insider Activity

In other Century Therapeutics news, CEO Brent Pfeiffenberger bought 52,000 shares of Century Therapeutics stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average cost of $0.58 per share, for a total transaction of $30,160.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chad Cowan purchased 58,060 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 1,045,087 shares of the company’s stock, valued at $888,323.95. The trade was a 5.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 145,060 shares of company stock valued at $97,011 and have sold 65,987 shares valued at $29,798. Company insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Century Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPSC. Prudential Financial Inc. bought a new position in shares of Century Therapeutics in the second quarter valued at approximately $25,000. Bank of America Corp DE raised its holdings in Century Therapeutics by 109.1% in the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after acquiring an additional 34,466 shares during the period. Qube Research & Technologies Ltd acquired a new position in Century Therapeutics during the 2nd quarter worth $38,000. Y Intercept Hong Kong Ltd bought a new stake in Century Therapeutics during the second quarter valued at about $50,000. Finally, Raymond James Financial Inc. bought a new stake in Century Therapeutics during the second quarter valued at about $51,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Century Therapeutics Stock Performance

Shares of Century Therapeutics stock traded down $0.35 during midday trading on Thursday, reaching $2.01. 1,498,227 shares of the company’s stock traded hands, compared to its average volume of 3,049,969. The company has a market cap of $175.68 million, a price-to-earnings 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. The company’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $0.76.

Century Therapeutics (NASDAQ:IPSC) last posted 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. As a group, equities research analysts predict that Century Therapeutics will post -1.61 earnings per share for the current 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.