Context Therapeutics Inc. (NASDAQ:CNTX) Sees Significant Drop in Short Interest

Context Therapeutics Inc. (NASDAQ:CNTX) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 879,600 shares, a decline of 13.8% from the October 31st total of 1,020,000 shares. Based on an average trading volume of 278,800 shares, the short-interest ratio is currently 3.2 days. Approximately 1.5% of the company’s stock are sold short.

Context Therapeutics Stock Performance

Context Therapeutics stock opened at $1.56 on Tuesday. Context Therapeutics has a 52 week low of $0.79 and a 52 week high of $2.75. The firm has a market capitalization of $117.00 million, a PE ratio of -1.71 and a beta of 2.25. The business’s 50-day simple moving average is $1.92 and its 200-day simple moving average is $2.07.

Context Therapeutics (NASDAQ:CNTX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.11). Research analysts forecast that Context Therapeutics will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CNTX. Driehaus Capital Management LLC bought a new position in Context Therapeutics during the 2nd quarter valued at about $4,527,000. Great Point Partners LLC bought a new position in shares of Context Therapeutics in the second quarter valued at approximately $14,876,000. Blue Owl Capital Holdings LP bought a new stake in Context Therapeutics during the 2nd quarter worth approximately $10,348,000. Nantahala Capital Management LLC acquired a new stake in Context Therapeutics during the 2nd quarter valued at $3,881,000. Finally, Renaissance Technologies LLC raised its position in Context Therapeutics by 63.4% in the 2nd quarter. Renaissance Technologies LLC now owns 65,200 shares of the company’s stock valued at $131,000 after purchasing an additional 25,300 shares during the last quarter. Institutional investors and hedge funds own 14.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CNTX. D. Boral Capital initiated coverage on Context Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $9.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Context Therapeutics in a report on Monday, September 23rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.80.

About Context Therapeutics

Context Therapeutics Inc, a biopharmaceutical company, develops products for the treatment of solid tumors. Its lead program candidate is CTIM-76, an anti-Claudin 6 (CLDN6) x anti-CD3 bispecific antibody that is intended to redirect T-cell-mediated lysis toward malignant cells expressing CLDN6. The company has a collaboration and licensing agreement with Integral Molecular, Inc for the development of a CLDN6 bispecific monoclonal antibody for cancer therapy.