Century Therapeutics, Inc. (NASDAQ:IPSC) Sees Large Growth in Short Interest

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

Insider Buying and Selling

In other Century Therapeutics news, CEO Brent Pfeiffenberger bought 52,000 shares of Century Therapeutics stock in a transaction on Friday, December 12th. The stock was acquired at an average cost of $0.58 per share, with a total value of $30,160.00. Following the completion of the acquisition, the chief executive officer owned 3,322,990 shares in the company, valued at approximately $1,927,334.20. This represents a 1.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chad Cowan acquired 58,060 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average cost of $0.85 per share, for a total transaction of $49,351.00. Following the purchase, the insider directly owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. This trade represents a 5.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 145,060 shares of company stock valued at $97,011 and sold 65,987 shares valued at $29,798. Insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Century Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP increased its position in shares of Century Therapeutics by 59.2% in the third quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after buying an additional 338,902 shares in the last quarter. GSA Capital Partners LLP grew its stake in Century Therapeutics by 29.3% in the 3rd quarter. GSA Capital Partners LLP now owns 603,479 shares of the company’s stock valued at $301,000 after acquiring an additional 136,873 shares during the period. Jane Street Group LLC purchased a new stake in Century Therapeutics in the 2nd quarter worth $248,000. Citadel Advisors LLC increased its holdings in Century Therapeutics by 64.1% in the 3rd quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock worth $180,000 after acquiring an additional 140,891 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Century Therapeutics by 101.2% in the first quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock valued at $133,000 after purchasing an additional 142,953 shares during the period. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Stock Performance

IPSC stock traded down $0.11 during midday trading on Friday, reaching $1.90. The stock had a trading volume of 1,477,738 shares, compared to its average volume of 2,897,875. The firm has a fifty day simple moving average of $1.23 and a two-hundred day simple moving average of $0.78. Century Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.71. The stock has a market cap of $166.06 million, a PE ratio of -5.94 and a beta of 1.72.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. On average, sell-side analysts predict that Century Therapeutics will post -1.61 EPS for the current fiscal year.

Analysts Set New Price Targets

IPSC has been the topic of several research analyst reports. Zacks Research raised shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded Century Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, January 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Century Therapeutics in a research report on Wednesday, October 8th. Piper Sandler lifted their price objective on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Finally, Leerink Partners downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 17th. One 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3.80.

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.