Context Therapeutics Inc. (NASDAQ:CNTX) Short Interest Down 56.9% in August

Key Points

• Context Therapeutics Inc. experienced a significant decrease in short interest, dropping from 1,210,000 shares to 521,200 shares during August, representing a 56.9% decline.
• Institutional investors now hold 14.03% of Context Therapeutics' stock, with notable acquisitions from hedge funds including Jane Street Group and Citadel Advisors.
• Brokerages have differing outlooks on the stock, with a consensus rating of "Buy" and a price target ranging from $4.00 to $9.00.

Context Therapeutics Inc. (NASDAQ:CNTX - Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 521,200 shares, a decline of 56.9% from the August 15th total of 1,210,000 shares. Based on an average daily volume of 208,700 shares, the days-to-cover ratio is presently 2.5 days. Approximately 0.9% of the company's stock are short sold. Approximately 0.9% of the company's stock are short sold. Based on an average daily volume of 208,700 shares, the days-to-cover ratio is presently 2.5 days.

Context Therapeutics Trading Up 12.3%

Shares of NASDAQ CNTX traded up $0.11 during midday trading on Thursday, hitting $0.98. The company's stock had a trading volume of 411,757 shares, compared to its average volume of 191,978. The stock has a fifty day moving average price of $0.81 and a 200 day moving average price of $0.75. Context Therapeutics has a one year low of $0.49 and a one year high of $2.59. The firm has a market capitalization of $88.18 million, a price-to-earnings ratio of -2.76 and a beta of 1.91.

Context Therapeutics (NASDAQ:CNTX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). On average, equities research analysts predict that Context Therapeutics will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Context Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC bought a new stake in Context Therapeutics during the 4th quarter worth approximately $31,000. Millennium Management LLC increased its holdings in Context Therapeutics by 24.2% during the 4th quarter. Millennium Management LLC now owns 178,718 shares of the company's stock worth $188,000 after acquiring an additional 34,835 shares during the period. Jane Street Group LLC bought a new stake in Context Therapeutics during the 4th quarter worth approximately $29,000. Finally, Shay Capital LLC bought a new stake in Context Therapeutics during the 4th quarter worth approximately $52,000. Institutional investors own 14.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. HC Wainwright cut their price target on shares of Context Therapeutics from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Guggenheim assumed coverage on shares of Context Therapeutics in a research note on Thursday. They issued a "buy" rating and a $5.00 target price on the stock. Piper Sandler reiterated an "overweight" rating and issued a $4.00 target price (down from $4.50) on shares of Context Therapeutics in a research note on Thursday, June 26th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $9.00 target price on shares of Context Therapeutics in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $5.20.

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.