Century Therapeutics, Inc. (NASDAQ:IPSC) Short Interest Update

Century Therapeutics, Inc. (NASDAQ:IPSC - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,640,000 shares, a decrease of 6.3% from the February 29th total of 1,750,000 shares. Approximately 7.6% of the shares of the stock are sold short. Based on an average trading volume of 214,300 shares, the short-interest ratio is currently 7.7 days.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Canaccord Genuity Group boosted their target price on Century Therapeutics from $22.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. HC Wainwright reiterated a "buy" rating and set a $13.00 target price on shares of Century Therapeutics in a research report on Friday, March 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Century Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $14.17.

Insider Buying and Selling

In related news, insider Adrienne Farid sold 22,831 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $5.14, for a total transaction of $117,351.34. Following the transaction, the insider now owns 114,149 shares of the company's stock, valued at $586,725.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 25,509 shares of company stock valued at $127,635 over the last quarter. Company insiders own 7.60% of the company's stock.

Institutional Trading of Century Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Century Therapeutics by 49.6% during the first quarter. Vanguard Group Inc. now owns 819,762 shares of the company's stock worth $10,320,000 after buying an additional 271,760 shares during the period. Avidity Partners Management LP lifted its position in Century Therapeutics by 23.4% during the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company's stock worth $4,499,000 after buying an additional 256,500 shares during the period. BlackRock Inc. lifted its position in Century Therapeutics by 14.4% during the second quarter. BlackRock Inc. now owns 1,615,174 shares of the company's stock worth $5,104,000 after buying an additional 203,725 shares during the period. Millennium Management LLC lifted its position in Century Therapeutics by 239.0% during the fourth quarter. Millennium Management LLC now owns 228,858 shares of the company's stock worth $1,174,000 after buying an additional 161,345 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Century Therapeutics during the fourth quarter worth about $539,000. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

Century Therapeutics Price Performance

IPSC traded down $0.13 during trading on Monday, reaching $4.05. 82,632 shares of the stock were exchanged, compared to its average volume of 220,115. Century Therapeutics has a 1 year low of $1.28 and a 1 year high of $5.51. The business's 50 day moving average price is $4.39 and its two-hundred day moving average price is $2.95. The company has a market capitalization of $262.52 million, a price-to-earnings ratio of -1.78 and a beta of 1.33.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.07. Century Therapeutics had a negative return on equity of 54.73% and a negative net margin of 6,115.12%. The business had revenue of $0.27 million for the quarter, compared to the consensus estimate of $1.69 million. On average, analysts anticipate that Century Therapeutics will post -2.02 EPS for the current year.

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.