Contineum Therapeutics (NASDAQ:CTNM) Stock Rating Cut to "Neutral" at Robert W. Baird

Key Points

• Robert W. Baird downgraded Contineum Therapeutics from “outperform” to “neutral,” while maintaining a $14 price target—implying 63.3% upside from the prior close.
• Analyst sentiment is mixed, with three “buy,” two “hold,” and one “sell” rating, resulting in a consensus “hold” rating and an average price target of $21.33.
• CTNM shares rose 0.2% to $8.57, near their 52-week low of $8.43; the company remains a loss-making clinical-stage biotech focused on treatments for central nervous system diseases.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) was downgraded by investment analysts at Robert W. Baird from an "outperform" rating to a "neutral" rating in a note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $14.00 price target on the stock. Robert W. Baird's price objective points to a potential upside of 63.30% from the company's previous close.

A number of other equities research analysts also recently issued reports on CTNM. Wall Street Zen downgraded Contineum Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Royal Bank Of Canada upped their price objective on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Stifel Nicolaus set a $28.00 price target on shares of Contineum Therapeutics in a research note on Wednesday, September 30th. Finally, Morgan Stanley cut their price target on shares of Contineum Therapeutics from $18.00 to $17.00 and set an "equal weight" rating for the company in a research report on Monday, September 28th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Contineum Therapeutics has a consensus rating of "Hold" and a consensus target price of $21.33.

Contineum Therapeutics Trading Up 0.2%

Shares of CTNM stock traded up $0.01 during trading on Tuesday, hitting $8.57. The company's stock had a trading volume of 285,674 shares, compared to its average volume of 414,530. The company has a market cap of $322.52 million, a PE ratio of -4.97 and a beta of 0.86. The business has a fifty day moving average of $14.62 and a 200-day moving average of $13.91. Contineum Therapeutics has a 52 week low of $8.43 and a 52 week high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.05. As a group, research analysts predict that Contineum Therapeutics will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in Contineum Therapeutics by 11.7% during the 1st 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 in the last quarter. Baker BROS. Advisors LP increased its stake in Contineum Therapeutics by 1,729.3% during the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company's stock worth $16,240,000 after acquiring an additional 1,343,168 shares during the last quarter. Commodore Capital LP purchased a new stake in Contineum Therapeutics in the 4th quarter worth about $9,331,000. 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 during the last quarter. Finally, Eversept Partners LP lifted its holdings in Contineum Therapeutics by 6.5% during the 1st quarter. Eversept Partners LP now owns 146,411 shares of the company's stock valued at $1,912,000 after buying an additional 8,918 shares in the last quarter.

About Contineum Therapeutics

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company's research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum's pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.

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