Context Therapeutics Inc. (NASDAQ:CNTX) Short Interest Update

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 large drop in short interest during the month of August. As of August 31st, there was short interest totaling 521,200 shares, a drop of 56.9% from the August 15th total of 1,210,000 shares. Approximately 0.9% of the company's shares are sold short. Based on an average daily trading volume, of 208,700 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily trading volume, of 208,700 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.9% of the company's shares are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in Context Therapeutics during the 4th quarter worth approximately $29,000. Citadel Advisors LLC acquired a new stake in shares of Context Therapeutics during the 4th quarter worth approximately $31,000. Millennium Management LLC grew its position in shares of 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 buying an additional 34,835 shares during the period. Finally, Shay Capital LLC acquired a new stake in shares of Context Therapeutics during the 4th quarter worth approximately $52,000. Institutional investors own 14.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CNTX. D. Boral Capital reiterated a "buy" rating and issued a $9.00 price objective on shares of Context Therapeutics in a report on Thursday, August 7th. Piper Sandler reiterated an "overweight" rating and issued a $4.00 price objective (down previously from $4.50) on shares of Context Therapeutics in a report on Thursday, June 26th. Finally, HC Wainwright dropped their price objective on shares of Context Therapeutics from $5.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $5.25.

Context Therapeutics Stock Performance

Context Therapeutics stock opened at $0.84 on Friday. Context Therapeutics has a 52-week low of $0.49 and a 52-week high of $2.59. The firm has a 50 day moving average price of $0.79 and a two-hundred day moving average price of $0.75. The firm has a market cap of $74.90 million, a price-to-earnings ratio of -2.32 and a beta of 1.91.

Context Therapeutics (NASDAQ:CNTX - Get Free Report) last released 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). As a group, equities research analysts predict that Context Therapeutics will post -0.51 EPS for the current fiscal year.

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.

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