Contineum Therapeutics (NASDAQ:CTNM) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Contineum Therapeutics to “Sell” from “Hold,” though broader analyst sentiment remains “Moderate Buy” with a consensus price target of $20.80.
• CTNM opened at $13.53, below its 50-day moving average of $15.23, while the company reported a quarterly loss of $0.40 per share—better than the expected $0.45 loss.
• Several institutional investors increased their positions, including Wellington Management, Janus Henderson, Bank of America, and Seven Fleet Capital Management.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms have also weighed in on CTNM. Robert W. Baird lowered their target price on shares of Contineum Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada boosted their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Finally, JonesTrading decreased their price objective on shares of Contineum Therapeutics from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.80.

Contineum Therapeutics Price Performance

Contineum Therapeutics stock opened at $13.53 on Friday. The company has a market capitalization of $509.00 million, a PE ratio of -7.82 and a beta of 0.75. Contineum Therapeutics has a one year low of $8.60 and a one year high of $17.78. The business has a 50 day simple moving average of $15.23 and a 200 day simple moving average of $14.00.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.05. Equities analysts anticipate that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Contineum Therapeutics

Several large investors have recently made changes to their positions in CTNM. Seven Fleet Capital Management LP raised its stake in shares of Contineum Therapeutics by 123.8% in the second quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company's stock worth $992,000 after acquiring an additional 33,487 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Contineum Therapeutics by 171.2% during the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company's stock worth $2,472,000 after purchasing an additional 95,188 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Contineum Therapeutics by 411.9% during the first quarter. Bank of America Corp DE now owns 47,449 shares of the company's stock valued at $620,000 after purchasing an additional 38,180 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Contineum Therapeutics by 11.7% during the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company's stock valued at $35,594,000 after purchasing an additional 285,857 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Contineum Therapeutics by 73.5% in the first quarter. Royal Bank of Canada now owns 5,794 shares of the company's stock valued at $76,000 after purchasing an additional 2,454 shares in the last quarter.

About Contineum Therapeutics

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company's research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum's lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.

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