Great Point Partners LLC Purchases Shares of 7,419,355 Context Therapeutics Inc. (NASDAQ:CNTX)

Great Point Partners LLC acquired a new position in Context Therapeutics Inc. (NASDAQ:CNTX) during the second quarter, according to its most recent filing with the SEC. The firm acquired 7,419,355 shares of the company’s stock, valued at approximately $14,876,000. Context Therapeutics comprises approximately 2.8% of Great Point Partners LLC’s holdings, making the stock its 15th biggest holding. Great Point Partners LLC owned about 9.89% of Context Therapeutics at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ally Bridge Group NY LLC increased its position in Context Therapeutics by 159.8% during the 2nd quarter. Ally Bridge Group NY LLC now owns 1,886,232 shares of the company’s stock valued at $3,782,000 after purchasing an additional 1,160,281 shares during the period. Opaleye Management Inc. bought a new stake in shares of Context Therapeutics during the 4th quarter valued at about $1,102,000. Finally, Renaissance Technologies LLC increased its position in shares of Context Therapeutics by 63.4% during the second quarter. Renaissance Technologies LLC now owns 65,200 shares of the company’s stock valued at $131,000 after buying an additional 25,300 shares during the period. 14.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Context Therapeutics in a research report on Monday.

Context Therapeutics Stock Performance

Shares of NASDAQ CNTX opened at $2.08 on Tuesday. The company has a 50 day simple moving average of $2.31 and a two-hundred day simple moving average of $1.89. Context Therapeutics Inc. has a fifty-two week low of $0.77 and a fifty-two week high of $2.75. The company has a market capitalization of $156.00 million, a price-to-earnings ratio of -1.56 and a beta of 2.31.

Context Therapeutics (NASDAQ:CNTX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. On average, analysts forecast that Context Therapeutics Inc. will post -0.31 earnings per share for the current fiscal year.

Context Therapeutics Profile

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.