Contineum Therapeutics, Inc. (NASDAQ:CTNM) Short Interest Update

Key Points

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Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 266,100 shares, adropof39.4% from the July 15th total of 439,100 shares. Approximately2.0% of the shares of the stock are short sold. Based on an average daily volume of 213,700 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 213,700 shares, the short-interest ratio is presently 1.2 days. Approximately2.0% of the shares of the stock are short sold.

Contineum Therapeutics Price Performance

Shares of NASDAQ:CTNM traded down $0.10 during trading on Friday, reaching $9.94. The stock had a trading volume of 214,010 shares, compared to its average volume of 208,676. Contineum Therapeutics has a 52 week low of $3.35 and a 52 week high of $20.55. The business's 50-day moving average price is $5.39 and its 200 day moving average price is $5.50. The stock has a market capitalization of $278.72 million, a PE ratio of -4.52 and a beta of 1.04.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in shares of Contineum Therapeutics by 7.8% in the second quarter. Franklin Resources Inc. now owns 1,698,825 shares of the company's stock valued at $6,744,000 after acquiring an additional 122,644 shares during the last quarter. Red Tree Management LLC bought a new position in shares of Contineum Therapeutics in the fourth quarter valued at approximately $9,349,000. Stempoint Capital LP bought a new position in shares of Contineum Therapeutics in the fourth quarter valued at approximately $3,894,000. Geode Capital Management LLC raised its stake in shares of Contineum Therapeutics by 46.4% in the fourth quarter. Geode Capital Management LLC now owns 188,408 shares of the company's stock valued at $2,761,000 after acquiring an additional 59,732 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Contineum Therapeutics in the second quarter valued at approximately $674,000.

Analyst Ratings Changes

A number of research analysts have commented on CTNM shares. Morgan Stanley raised their price target on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Royal Bank Of Canada restated an "outperform" rating and set a $31.00 price target on shares of Contineum Therapeutics in a research note on Thursday, May 15th. Finally, William Blair started coverage on shares of Contineum Therapeutics in a research note on Friday, June 20th. They set an "outperform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat.com, Contineum Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $22.75.

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).