Velan Capital Investment Management LP Sells 1,200,323 Shares of Context Therapeutics Inc. (NASDAQ:CNTX)

Velan Capital Investment Management LP reduced its holdings in shares of Context Therapeutics Inc. (NASDAQ:CNTX - Free Report) by 93.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,000 shares of the company's stock after selling 1,200,323 shares during the quarter. Context Therapeutics accounts for 0.1% of Velan Capital Investment Management LP's portfolio, making the stock its 27th largest position. Velan Capital Investment Management LP owned about 0.12% of Context Therapeutics worth $94,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Shay Capital LLC purchased a new stake in Context Therapeutics during the fourth quarter worth approximately $52,000. MPM Bioimpact LLC purchased a new stake in Context Therapeutics during the fourth quarter worth approximately $15,441,000. Millennium Management LLC lifted its position in shares of Context Therapeutics by 24.2% during the fourth quarter. Millennium Management LLC now owns 178,718 shares of the company's stock worth $188,000 after purchasing an additional 34,835 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Context Therapeutics during the fourth quarter worth $31,000. Finally, Allostery Investments LP acquired a new position in shares of Context Therapeutics during the fourth quarter worth $998,000. 14.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CNTX. William Blair reiterated an "outperform" rating on shares of Context Therapeutics in a research note on Tuesday, April 29th. D. Boral Capital reiterated a "buy" rating and set a $9.00 price objective on shares of Context Therapeutics in a research note on Thursday, May 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $5.00 price objective on shares of Context Therapeutics in a research note on Friday, March 21st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $6.00.

Context Therapeutics Trading Down 1.8%

CNTX stock traded down $0.01 during mid-day trading on Friday, reaching $0.69. 78,969 shares of the stock traded hands, compared to its average volume of 285,591. Context Therapeutics Inc. has a 52-week low of $0.55 and a 52-week high of $2.75. The company has a market cap of $62.16 million, a P/E ratio of -0.76 and a beta of 2.11. The stock's fifty day moving average is $0.77 and its 200-day moving average is $1.01.

Context Therapeutics (NASDAQ:CNTX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Equities research analysts expect that Context Therapeutics Inc. will post -0.51 earnings per share for the current year.

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.