Short Interest in Century Therapeutics, Inc. (NASDAQ:IPSC) Increases By 33.6%

Century Therapeutics, Inc. (NASDAQ:IPSC) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 6,332,990 shares, an increase of 33.6% from the February 12th total of 4,739,771 shares. Based on an average daily trading volume, of 752,742 shares, the days-to-cover ratio is currently 8.4 days. Approximately 7.6% of the company’s stock are sold short. Approximately 7.6% of the company’s stock are sold short. Based on an average daily trading volume, of 752,742 shares, the days-to-cover ratio is currently 8.4 days.

Insider Buying and Selling

In related news, insider Gregory Russotti sold 10,076 shares of Century Therapeutics stock in a transaction that occurred on Thursday, March 12th. The shares were 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 $1,314,338.85. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Cowan purchased 58,060 shares of the stock in a transaction on Monday, December 22nd. The shares were purchased at an average price of $0.85 per share, with a total value of $49,351.00. Following the acquisition, the insider directly owned 1,045,087 shares in the company, valued at $888,323.95. This represents a 5.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 17,921 shares of company stock worth $45,458 over the last 90 days. Insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Century Therapeutics

Large investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. purchased a new position in shares of Century Therapeutics during the fourth quarter worth about $1,829,000. Spruce Street Capital LP acquired a new stake in shares of Century Therapeutics during the fourth quarter worth about $1,414,000. Geode Capital Management LLC lifted its holdings in shares of Century Therapeutics by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock valued at $454,000 after purchasing an additional 10,806 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Century Therapeutics by 64.1% in the 3rd quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock valued at $180,000 after purchasing an additional 140,891 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Century Therapeutics by 59.2% in the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after purchasing an additional 338,902 shares during the period. Institutional investors and hedge funds own 50.20% of the company’s stock.

Century Therapeutics Trading Up 3.8%

IPSC stock opened at $2.43 on Tuesday. The company’s 50 day moving average is $2.11 and its two-hundred day moving average is $1.13. Century Therapeutics has a twelve month low of $0.34 and a twelve month high of $3.04. The stock has a market cap of $212.38 million, a P/E ratio of -17.36 and a beta of 1.70.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IPSC. Piper Sandler raised their price objective on shares of Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. TD Cowen assumed coverage on Century Therapeutics in a report on Wednesday, February 25th. They issued a “buy” rating on the stock. Wall Street Zen upgraded Century Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Leerink Partners set a $2.00 price target on Century Therapeutics and gave the stock a “market perform” rating in a report on Friday. Finally, Zacks Research cut Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.80.

Century Therapeutics Company Profile

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.