Century Therapeutics, Inc. (NASDAQ:IPSC) Short Interest Up 14.0% in January

Century Therapeutics, Inc. (NASDAQ:IPSC - Get Free Report) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 3,090,000 shares, an increase of 14.0% from the December 31st total of 2,710,000 shares. Based on an average daily volume of 560,600 shares, the short-interest ratio is presently 5.5 days. Approximately 8.9% of the company's stock are short sold.

Institutional Trading of Century Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Century Therapeutics by 257.6% during the third quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company's stock valued at $123,000 after purchasing an additional 51,664 shares in the last quarter. Barclays PLC raised its position in shares of Century Therapeutics by 283.6% during the 3rd quarter. Barclays PLC now owns 61,945 shares of the company's stock worth $106,000 after buying an additional 45,797 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Century Therapeutics by 3.5% during the third quarter. Geode Capital Management LLC now owns 968,182 shares of the company's stock valued at $1,656,000 after acquiring an additional 32,614 shares during the period. Wellington Management Group LLP bought a new stake in shares of Century Therapeutics in the 3rd quarter worth $284,000. Finally, State Street Corp lifted its holdings in Century Therapeutics by 7.4% in the 3rd quarter. State Street Corp now owns 836,914 shares of the company's stock valued at $1,431,000 after acquiring an additional 57,323 shares during the last quarter. Institutional investors own 50.20% of the company's stock.

Century Therapeutics Stock Performance

Shares of IPSC traded up $0.01 during midday trading on Wednesday, hitting $0.80. 182,102 shares of the stock traded hands, compared to its average volume of 524,823. The business's 50 day moving average price is $1.11 and its two-hundred day moving average price is $1.44. The firm has a market capitalization of $67.69 million, a PE ratio of -0.43 and a beta of 1.73. Century Therapeutics has a 1-year low of $0.75 and a 1-year high of $5.51.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IPSC shares. Chardan Capital lowered their target price on Century Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. HC Wainwright reiterated a "buy" rating and set a $5.00 price objective on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Guggenheim restated a "buy" rating on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Finally, Piper Sandler lowered their price target on shares of Century Therapeutics from $12.00 to $4.00 and set an "overweight" rating for the company in a report on Monday, December 30th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $10.00.

About Century Therapeutics

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.