Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives $22.50 Consensus PT from Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six brokerages that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $22.50.

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $31.00 target price on shares of Contineum Therapeutics in a report on Thursday, May 15th. William Blair started coverage on Contineum Therapeutics in a research note on Friday, June 20th. They issued an "outperform" rating for the company. Finally, Morgan Stanley dropped their price target on Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, May 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTNM. Red Tree Management LLC acquired a new position in Contineum Therapeutics in the fourth quarter valued at about $9,349,000. Stempoint Capital LP bought a new position in Contineum Therapeutics in the fourth quarter valued at about $3,894,000. Norges Bank bought a new position in Contineum Therapeutics in the fourth quarter valued at about $2,487,000. Schonfeld Strategic Advisors LLC bought a new position in Contineum Therapeutics in the fourth quarter valued at about $1,846,000. Finally, ADAR1 Capital Management LLC grew its position in Contineum Therapeutics by 105.2% in the first quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company's stock valued at $1,178,000 after acquiring an additional 86,531 shares during the last quarter.

Contineum Therapeutics Price Performance

Contineum Therapeutics stock traded up $0.19 during mid-day trading on Tuesday, hitting $4.03. 116,435 shares of the company's stock traded hands, compared to its average volume of 91,589. Contineum Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $21.66. The stock has a market cap of $104.13 million, a price-to-earnings ratio of -2.04 and a beta of 0.85. The firm has a 50 day simple moving average of $4.04 and a two-hundred day simple moving average of $6.55.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.06). On average, research analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

About Contineum Therapeutics

Contineum Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on discovering and developing novel oral small molecule therapies for neuroscience, inflammation, and immunology indications with high unmet need. Its lead asset is PIPE-791, a novel, brain penetrant, small molecule inhibitor of the lysophosphatidic acid 1 receptor (LPA1R) for the treatment of idiopathic pulmonary fibrosis and progressive multiple sclerosis (MS).