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

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 266,100 shares, adeclineof39.4% from the July 15th total of 439,100 shares. Based on an average trading volume of 213,700 shares, the days-to-cover ratio is currently 1.2 days. Currently,2.0% of the company's stock are short sold. Currently,2.0% of the company's stock are short sold. Based on an average trading volume of 213,700 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Contineum Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new stake in Contineum Therapeutics in the 1st quarter worth approximately $27,000. Qube Research & Technologies Ltd acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $43,000. Marex Group plc acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $45,000. Legal & General Group Plc lifted its holdings in shares of Contineum Therapeutics by 74.0% during the fourth quarter. Legal & General Group Plc now owns 3,631 shares of the company's stock worth $53,000 after buying an additional 1,544 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $76,000.

Contineum Therapeutics Stock Performance

Shares of Contineum Therapeutics stock traded down $0.10 during trading on Friday, hitting $9.94. 214,010 shares of the stock traded hands, compared to its average volume of 206,175. The company has a fifty day moving average price of $5.39 and a two-hundred day moving average price of $5.55. Contineum Therapeutics has a twelve month low of $3.35 and a twelve month high of $20.55. The stock has a market cap of $278.72 million, a P/E 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 for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, equities research analysts expect that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

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).