Century Therapeutics, Inc. (NASDAQ:IPSC) Short Interest Up 5.7% in October

Century Therapeutics, Inc. (NASDAQ:IPSC) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 3,520,000 shares, an increase of 5.7% from the October 15th total of 3,330,000 shares. Approximately 10.2% of the company’s shares are short sold. Based on an average daily trading volume, of 371,800 shares, the days-to-cover ratio is presently 9.5 days.

Century Therapeutics Trading Up 2.5 %

IPSC traded up $0.03 on Monday, hitting $1.25. The company had a trading volume of 428,769 shares, compared to its average volume of 268,042. The firm has a market cap of $106.29 million, a P/E ratio of -0.68 and a beta of 1.41. The company’s fifty day moving average price is $1.49 and its 200 day moving average price is $2.15. Century Therapeutics has a 1 year low of $1.14 and a 1 year high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last announced 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. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. The company had revenue of $0.79 million for the quarter, compared to analyst estimates of $0.47 million. During the same quarter in the previous year, the company earned ($0.55) earnings per share. On average, analysts predict that Century Therapeutics will post -1.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HC Wainwright dropped their target price on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Rodman & Renshaw assumed coverage on shares of Century Therapeutics in a report on Thursday, August 8th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Chardan Capital reduced their target price on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $11.60.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors have recently modified their holdings of IPSC. SG Americas Securities LLC purchased a new position in Century Therapeutics in the third quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Century Therapeutics in the 1st quarter valued at about $47,000. Barclays PLC boosted its stake in shares of Century Therapeutics by 283.6% in the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock valued at $106,000 after buying an additional 45,797 shares during the period. Rhumbline Advisers grew its position in shares of Century Therapeutics by 56.0% during the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock worth $134,000 after buying an additional 18,828 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Century Therapeutics by 141.7% during the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after buying an additional 44,155 shares during the period. Institutional investors and hedge funds own 50.20% of the company’s stock.

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.