Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Declines By 5.6%

Century Therapeutics, Inc. (NASDAQ:IPSC - Get Free Report) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 2,710,000 shares, a decrease of 5.6% from the November 30th total of 2,870,000 shares. Currently, 7.8% of the company's stock are sold short. Based on an average daily volume of 545,600 shares, the short-interest ratio is currently 5.0 days.

Institutional Investors Weigh In On Century Therapeutics

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Century Therapeutics by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 968,182 shares of the company's stock valued at $1,656,000 after purchasing an additional 32,614 shares in the last quarter. State Street Corp increased its position in shares of Century Therapeutics by 7.4% in the third quarter. State Street Corp now owns 836,914 shares of the company's stock valued at $1,431,000 after buying an additional 57,323 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Century Therapeutics during the 3rd quarter worth approximately $284,000. Renaissance Technologies LLC lifted its position in shares of Century Therapeutics by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company's stock valued at $422,000 after buying an additional 9,500 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Century Therapeutics by 110.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company's stock valued at $380,000 after acquiring an additional 78,088 shares during the period. Hedge funds and other institutional investors own 50.20% of the company's stock.

Century Therapeutics Stock Performance

NASDAQ IPSC traded up $0.01 during trading hours on Wednesday, reaching $1.01. The stock had a trading volume of 374,144 shares, compared to its average volume of 320,540. Century Therapeutics has a 52-week low of $0.95 and a 52-week high of $5.51. The stock has a fifty day moving average of $1.31 and a 200 day moving average of $1.74. The stock has a market cap of $85.88 million, a P/E ratio of -0.55 and a beta of 1.65.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.08. The company had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.47 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. During the same period in the previous year, the firm posted ($0.55) earnings per share. On average, equities research analysts forecast that Century Therapeutics will post -1.63 EPS for the current year.

Analyst Ratings Changes

IPSC has been the subject of several analyst reports. Chardan Capital decreased their price objective on Century Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Piper Sandler lowered their price target on Century Therapeutics from $12.00 to $4.00 and set an "overweight" rating for the company in a report on Monday. Finally, HC Wainwright cut their price objective on shares of Century Therapeutics from $9.00 to $5.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $10.00.

Century Therapeutics Company Profile

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.