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

Context Therapeutics Inc. (NASDAQ:CNTX) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 2,060,000 shares, a decline of 7.6% from the June 30th total of 2,230,000 shares. Based on an average trading volume of 709,100 shares, the days-to-cover ratio is presently 2.9 days. Approximately 3.1% of the shares of the company are short sold.

Context Therapeutics Stock Performance

Context Therapeutics stock traded up $0.07 during trading on Thursday, reaching $2.23. The company had a trading volume of 262,866 shares, compared to its average volume of 345,856. The firm has a market capitalization of $167.25 million, a PE ratio of -1.62 and a beta of 2.30. The firm’s 50-day simple moving average is $2.03 and its 200 day simple moving average is $1.55. Context Therapeutics has a 1-year low of $0.77 and a 1-year high of $2.54.

Context Therapeutics (NASDAQ:CNTX) last announced its earnings results on Wednesday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.15. Analysts anticipate that Context Therapeutics will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Context Therapeutics

A hedge fund recently raised its position in Context Therapeutics stock. Opaleye Management Inc. boosted its position in Context Therapeutics Inc. (NASDAQ:CNTX) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,108,357 shares of the company’s stock after purchasing an additional 133,357 shares during the quarter. Opaleye Management Inc. owned about 1.48% of Context Therapeutics worth $1,530,000 at the end of the most recent reporting period. 14.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNTX has been the topic of several recent research reports. Maxim Group upped their price objective on shares of Context Therapeutics from $4.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, May 9th. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Context Therapeutics in a research note on Wednesday, July 10th. Piper Sandler Companies assumed coverage on shares of Context Therapeutics in a research report on Thursday, May 16th. They set an “overweight” rating and a $4.50 price target on the stock. Finally, Piper Sandler began coverage on shares of Context Therapeutics in a research report on Thursday, May 16th. They issued an “overweight” rating and a $4.50 price objective for the company.

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.