Contineum Therapeutics (NASDAQ:CTNM) Downgraded by Wall Street Zen to Strong Sell

Key Points

• Wall Street Zen downgraded Contineum Therapeutics from “sell” to “strong sell.” Despite the downgrade, analyst views are mixed overall, with a consensus “hold” rating and a $21.40 price target.
• Contineum reported a quarterly loss of $0.49 per share, missing the consensus estimate of a $0.45 loss.
• Shares opened at $9.86, below their 50-day moving average of $11.28 and 200-day moving average of $13.41.

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

A number of other equities research analysts have also recently commented on CTNM. Stifel Nicolaus set a $23.00 target price on Contineum Therapeutics in a research note on Wednesday, November 4th. JonesTrading increased their price target on shares of Contineum Therapeutics from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, October 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Contineum Therapeutics in a report on Thursday, October 15th. Robert W. Baird downgraded shares of Contineum Therapeutics from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $19.00 to $14.00 in a report on Tuesday, October 13th. Finally, Royal Bank Of Canada lifted their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $21.40.

Contineum Therapeutics Stock Up 0.8%

Shares of CTNM opened at $9.86 on Friday. The stock has a 50 day moving average of $11.28 and a 200 day moving average of $13.41. Contineum Therapeutics has a 12 month low of $6.72 and a 12 month high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). Research analysts predict that Contineum Therapeutics will post -1.76 earnings per share for the current year.

Institutional Trading of Contineum Therapeutics

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Contineum Therapeutics by 73.5% during the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company's stock valued at $76,000 after buying an additional 2,454 shares during the last quarter. Independent Financial Group LLC bought a new position in shares of Contineum Therapeutics during the 1st quarter worth $353,000. Seven Fleet Capital Management LP bought a new position in shares of Contineum Therapeutics during the 1st quarter worth $353,000. Profund Advisors LLC purchased a new stake in Contineum Therapeutics in the 3rd quarter worth about $508,000. Finally, Alps Advisors Inc. increased its holdings in Contineum Therapeutics by 30.6% in the 3rd quarter. Alps Advisors Inc. now owns 43,357 shares of the company's stock worth $582,000 after acquiring an additional 10,147 shares during the last quarter.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for neurological, inflammatory and fibrotic diseases. The company is based in San Diego, California, and was previously known as Pipeline Therapeutics. Its development programs include PIPE-307, an investigational M1 receptor antagonist being studied for neurological conditions, including relapsing-remitting multiple sclerosis. Contineum is also developing PIPE-791, an investigational LPA1 receptor antagonist for fibrotic lung diseases and related conditions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.