MPM Bioimpact LLC Takes $15.44 Million Position in Context Therapeutics Inc. (NASDAQ:CNTX)

MPM Bioimpact LLC purchased a new position in shares of Context Therapeutics Inc. (NASDAQ:CNTX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,705,882 shares of the company's stock, valued at approximately $15,441,000. Context Therapeutics comprises approximately 2.2% of MPM Bioimpact LLC's holdings, making the stock its 18th biggest holding. MPM Bioimpact LLC owned about 19.61% of Context Therapeutics as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CNTX. Franklin Resources Inc. raised its stake in Context Therapeutics by 115.9% during the 4th quarter. Franklin Resources Inc. now owns 4,003,380 shares of the company's stock valued at $4,204,000 after purchasing an additional 2,149,392 shares during the last quarter. Allostery Investments LP acquired a new position in shares of Context Therapeutics during the fourth quarter valued at about $998,000. Blue Owl Capital Holdings LP raised its position in shares of Context Therapeutics by 17.5% during the fourth quarter. Blue Owl Capital Holdings LP now owns 6,357,928 shares of the company's stock valued at $6,676,000 after buying an additional 946,638 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Context Therapeutics by 412.8% during the fourth quarter. Renaissance Technologies LLC now owns 338,435 shares of the company's stock valued at $355,000 after buying an additional 272,435 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Context Therapeutics in the fourth quarter valued at about $213,000. 14.03% of the stock is owned by institutional investors.

Context Therapeutics Stock Performance

NASDAQ CNTX traded down $0.04 during trading on Friday, reaching $0.71. 102,223 shares of the company traded hands, compared to its average volume of 288,533. The stock's 50 day moving average price is $0.78 and its two-hundred day moving average price is $1.07. The company has a market cap of $63.85 million, a price-to-earnings ratio of -0.78 and a beta of 2.11. Context Therapeutics Inc. has a 1-year low of $0.55 and a 1-year high of $2.75.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. D. Boral Capital reissued a "buy" rating and set a $9.00 target price on shares of Context Therapeutics in a research report on Thursday, May 8th. HC Wainwright reissued a "buy" rating and set a $5.00 target price on shares of Context Therapeutics in a research report on Friday, March 21st. Finally, William Blair reissued an "outperform" rating on shares of Context Therapeutics in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $6.00.

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.