Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Expands By 320.2%

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IPSC shares. Wall Street Zen downgraded Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 1st. Piper Sandler upped their price objective on shares of Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Zacks Research raised shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Finally, Leerink Partners downgraded Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.80.

Century Therapeutics Price Performance

IPSC stock traded down $0.11 during trading on Wednesday, reaching $1.83. 601,189 shares of the stock traded hands, compared to its average volume of 2,444,793. The firm has a market capitalization of $159.51 million, a PE ratio of -5.70 and a beta of 1.75. The business’s 50 day moving average price is $1.41 and its 200-day moving average price is $0.84. 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. On average, equities research analysts predict that Century Therapeutics will post -1.61 earnings per share for the current year.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, CEO Brent Pfeiffenberger purchased 52,000 shares of Century Therapeutics stock in a transaction on Friday, December 12th. The shares were bought at an average price of $0.58 per share, with a total value of $30,160.00. Following the completion of the acquisition, the chief executive officer directly owned 3,322,990 shares of the company’s stock, valued at approximately $1,927,334.20. This trade represents a 1.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Cowan purchased 58,060 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. The trade was a 5.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 145,060 shares of company stock valued at $97,011 and have sold 66,018 shares valued at $30,213. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Century Therapeutics

Several institutional investors have recently bought and sold shares of IPSC. Prudential Financial Inc. purchased a new position in shares of Century Therapeutics in the 2nd quarter valued at $25,000. Qube Research & Technologies Ltd acquired a new stake in Century Therapeutics in the 2nd quarter valued at $38,000. Y Intercept Hong Kong Ltd acquired a new stake in Century Therapeutics in the 2nd quarter valued at $50,000. Raymond James Financial Inc. purchased a new position in Century Therapeutics in the second quarter valued at about $51,000. Finally, AQR Capital Management LLC lifted its stake 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 purchasing an additional 86,875 shares in the last quarter. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

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.