Contineum Therapeutics, Inc. (NASDAQ:CTNM) Short Interest Up 63.5% in August

Key Points

• Contineum Therapeutics experienced a notable increase in short interest, rising 63.5% in August, reaching a total of 435,200 shares, which represents approximately 2.8% of the company's stock.
• Institutional investors have shown interest in Contineum, with several making new investments during the first and second quarters totaling over $260,000 combined.
• Following its recent earnings report, analysts have varying ratings for the stock, with a notable price target increase from Morgan Stanley to $21.00 and an overall buy rating average of $22.75.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) was the target of a large increase in short interest in August. As of August 15th, there was short interest totaling 435,200 shares, anincreaseof63.5% from the July 31st total of 266,100 shares. Approximately2.8% of the company's stock are short sold. Based on an average daily volume of 234,700 shares, the short-interest ratio is currently 1.9 days. Based on an average daily volume of 234,700 shares, the short-interest ratio is currently 1.9 days. Approximately2.8% of the company's stock are short sold.

Institutional Investors Weigh In On Contineum Therapeutics

Several large investors have recently made changes to their positions in the company. Strs Ohio bought a new stake in Contineum Therapeutics during the 1st quarter worth about $27,000. Qube Research & Technologies Ltd acquired a new position in Contineum Therapeutics during the 2nd quarter valued at about $43,000. Marex Group plc acquired a new position in Contineum Therapeutics during the 2nd quarter valued at about $45,000. Bridgeway Capital Management LLC acquired a new position in Contineum Therapeutics during the 2nd quarter valued at about $76,000. Finally, Jane Street Group LLC acquired a new position in Contineum Therapeutics during the 2nd quarter valued at about $81,000.

Contineum Therapeutics Price Performance

Shares of Contineum Therapeutics stock opened at $11.50 on Friday. The firm has a market capitalization of $322.46 million, a PE ratio of -5.23 and a beta of 1.19. The company's fifty day moving average price is $6.66 and its two-hundred day moving average price is $5.72. Contineum Therapeutics has a 52-week low of $3.35 and a 52-week high of $20.30.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Analysts predict that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on CTNM shares. Morgan Stanley lifted their price target on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $31.00 price target on shares of Contineum Therapeutics in a report on Thursday, May 15th. Finally, William Blair began coverage on shares of Contineum Therapeutics in a research report on Friday, June 20th. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, Contineum Therapeutics has an average rating of "Buy" and an average target price of $22.75.

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).

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