Century Therapeutics, Inc. (NASDAQ:IPSC) Short Interest Update

Century Therapeutics, Inc. (NASDAQ:IPSC) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 8,626,834 shares, a growth of 36.2% from the February 26th total of 6,332,990 shares. Based on an average trading volume of 1,376,960 shares, the short-interest ratio is currently 6.3 days. Approximately 5.0% of the shares of the stock are sold short.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $2.55, for a total value of $25,693.80. Following the completion of the transaction, the insider owned 515,427 shares in the company, valued at approximately $1,314,338.85. This represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 17,921 shares of company stock valued at $45,458 in the last three months. Corporate insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Century Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. acquired a new stake in Century Therapeutics in the 2nd quarter worth about $25,000. Qube Research & Technologies Ltd purchased a new position in shares of Century Therapeutics in the 2nd quarter worth $38,000. Raymond James Financial Inc. acquired a new position in Century Therapeutics in the second quarter valued at $51,000. AQR Capital Management LLC grew its position in Century Therapeutics by 358.9% during the first quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after acquiring an additional 86,875 shares during the period. Finally, 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 worth $67,000 after acquiring an additional 34,466 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Trading Up 0.5%

Shares of NASDAQ:IPSC traded up $0.01 during midday trading on Monday, hitting $2.03. 1,408,297 shares of the stock were exchanged, compared to its average volume of 1,880,210. Century Therapeutics has a twelve month low of $0.34 and a twelve month high of $3.04. The company has a 50 day moving average price of $2.19 and a 200-day moving average price of $1.24. The stock has a market cap of $364.83 million, a P/E ratio of -14.50 and a beta of 1.70.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. On average, equities research analysts expect that Century Therapeutics will post -1.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IPSC. Zacks Research cut shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Leerink Partners set a $2.00 price objective on shares of Century Therapeutics and gave the stock a “market perform” rating in a report on Friday, March 13th. TD Cowen started coverage on shares of Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating on the stock. Wall Street Zen raised shares of Century Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Piper Sandler lifted their price target 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. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.50.

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.