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

Context Therapeutics Inc. (NASDAQ:CNTX) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 802,800 shares, a decline of 8.7% from the November 15th total of 879,600 shares. Based on an average daily volume of 285,600 shares, the short-interest ratio is currently 2.8 days. Approximately 1.4% of the company’s stock are short sold.

Context Therapeutics Stock Down 5.1 %

CNTX opened at $1.29 on Wednesday. Context Therapeutics has a 12-month low of $0.89 and a 12-month high of $2.75. The firm has a market capitalization of $96.75 million, a P/E ratio of -1.42 and a beta of 2.00. The stock’s 50 day moving average price is $1.83 and its two-hundred day moving average price is $2.04.

Context Therapeutics (NASDAQ:CNTX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.11). As a group, analysts anticipate that Context Therapeutics will post -0.51 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNTX. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Context Therapeutics in a research note on Monday, September 23rd. D. Boral Capital initiated coverage on Context Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $9.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Context Therapeutics currently has an average rating of “Buy” and a consensus price target of $6.80.

Institutional Investors Weigh In On Context Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new stake in shares of Context Therapeutics during the 3rd quarter worth approximately $3,689,000. Y Intercept Hong Kong Ltd acquired a new stake in Context Therapeutics during the third quarter worth $89,000. State Street Corp increased its holdings in Context Therapeutics by 21.5% in the 3rd quarter. State Street Corp now owns 111,907 shares of the company’s stock valued at $219,000 after buying an additional 19,800 shares during the period. Nantahala Capital Management LLC acquired a new position in shares of Context Therapeutics in the 2nd quarter valued at $3,881,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Context Therapeutics during the 2nd quarter worth about $4,527,000. 14.03% of the stock is owned by institutional investors and hedge funds.

Context Therapeutics Company 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.