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

Key Points

• Contineum Therapeutics, Inc. (NASDAQ:CTNM) experienced a 42.6% increase in short interest from mid-August to the end of August, bringing the total to 620,600 shares shorted.
• The company reported a quarterly loss of ($0.62) earnings per share, missing estimates, with analysts predicting a projected EPS of –2.01 for the current year.
• Institutional investments are on the rise, with notable increases such as Deutsche Bank AG acquiring a new stake worth $236,000 and Bank of America raising its stake by 63.4%.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 620,600 shares, a growth of 42.6% from the August 15th total of 435,200 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 258,700 shares, the short-interest ratio is currently 2.4 days. Based on an average daily trading volume, of 258,700 shares, the short-interest ratio is currently 2.4 days. Currently, 4.0% of the shares of the stock are short sold.

Contineum Therapeutics Price Performance

NASDAQ CTNM traded down $0.10 during midday trading on Tuesday, hitting $12.29. 61,812 shares of the company traded hands, compared to its average volume of 148,087. The company has a market cap of $344.72 million, a PE ratio of -5.57 and a beta of 1.13. The company's 50-day simple moving average is $7.65 and its 200-day simple moving average is $5.89. 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 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). On average, research analysts predict that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTNM shares. William Blair started coverage on Contineum Therapeutics in a research report on Friday, June 20th. They set an "outperform" rating on the stock. Morgan Stanley upped their price objective on Contineum Therapeutics from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $22.75.

Institutional Trading of Contineum Therapeutics

Institutional investors have recently made changes to their positions in the business. Deutsche Bank AG acquired a new stake in shares of Contineum Therapeutics in the 4th quarter worth $236,000. Bank of America Corp DE raised its stake in shares of Contineum Therapeutics by 63.4% during the 4th quarter. Bank of America Corp DE now owns 9,132 shares of the company's stock valued at $134,000 after buying an additional 3,542 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Contineum Therapeutics during the 4th quarter valued at about $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Contineum Therapeutics by 90.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company's stock valued at $86,000 after buying an additional 2,783 shares during the last quarter. Finally, ADAR1 Capital Management LLC increased its stake in shares of Contineum Therapeutics by 105.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company's stock valued at $1,178,000 after purchasing an additional 86,531 shares in the last quarter.

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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