Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Rating of "Buy" from Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) have earned a consensus recommendation of "Buy" from the five analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $22.50.

Several equities research analysts have recently weighed in on CTNM shares. William Blair assumed coverage on Contineum Therapeutics in a research report on Friday. They issued an "outperform" rating for the company. Robert W. Baird reduced their price target on Contineum Therapeutics from $32.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, May 15th. Morgan Stanley dropped their price objective on shares of Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, Jones Trading started coverage on shares of Contineum Therapeutics in a research note on Thursday, March 13th. They issued a "buy" rating and a $23.00 target price for the company.

Contineum Therapeutics Stock Down 7.1%

CTNM opened at $3.65 on Friday. Contineum Therapeutics has a 52-week low of $3.35 and a 52-week high of $22.00. The company has a 50 day moving average of $4.14 and a two-hundred day moving average of $7.95. The company has a market cap of $94.43 million, a P/E ratio of -1.85 and a beta of 0.52.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly 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). Research analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTNM. Rhumbline Advisers raised its position in shares of Contineum Therapeutics by 36.3% in the 4th quarter. Rhumbline Advisers now owns 8,233 shares of the company's stock valued at $121,000 after purchasing an additional 2,191 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Contineum Therapeutics by 32.3% in the fourth quarter. Bank of New York Mellon Corp now owns 18,738 shares of the company's stock worth $275,000 after buying an additional 4,573 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Contineum Therapeutics by 27.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 55,330 shares of the company's stock worth $811,000 after buying an additional 12,035 shares during the last quarter. Corebridge Financial Inc. raised its holdings in Contineum Therapeutics by 73.1% in the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company's stock valued at $76,000 after acquiring an additional 2,202 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its stake in Contineum Therapeutics by 256.8% during the 4th quarter. WINTON GROUP Ltd now owns 39,738 shares of the company's stock valued at $582,000 after acquiring an additional 28,602 shares during the last quarter.

Contineum Therapeutics Company Profile

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).

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