William Blair Begins Coverage on Contineum Therapeutics (NASDAQ:CTNM)

Equities research analysts at William Blair initiated coverage on shares of Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) in a research report issued on Friday, Marketbeat reports. The firm set an "outperform" rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Jones Trading began coverage on shares of Contineum Therapeutics in a report on Thursday, March 13th. They issued a "buy" rating and a $23.00 price objective for the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $31.00 price objective on shares of Contineum Therapeutics in a report on Thursday, May 15th. Morgan Stanley decreased their price objective on shares of Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Robert W. Baird decreased their price objective on shares of Contineum Therapeutics from $32.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $22.50.

Contineum Therapeutics Price Performance

NASDAQ:CTNM traded down $0.64 during trading hours on Friday, reaching $4.12. The company's stock had a trading volume of 188,816 shares, compared to its average volume of 85,664. The company has a market cap of $106.58 million, a price-to-earnings ratio of -2.09 and a beta of 0.52. Contineum Therapeutics has a one year low of $3.35 and a one year high of $22.00. The business's 50-day moving average is $4.16 and its 200-day moving average is $7.72.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.06). On average, sell-side analysts predict that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of hedge funds have recently bought and sold shares of CTNM. Red Tree Management LLC bought a new stake in Contineum Therapeutics during the fourth quarter valued at about $9,349,000. Stempoint Capital LP bought a new stake in shares of Contineum Therapeutics in the fourth quarter valued at about $3,894,000. Norges Bank bought a new stake in shares of Contineum Therapeutics in the fourth quarter valued at about $2,487,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Contineum Therapeutics in the fourth quarter valued at about $1,846,000. Finally, ADAR1 Capital Management LLC lifted its stake in shares of Contineum Therapeutics by 105.2% in the first quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company's stock valued at $1,178,000 after buying an additional 86,531 shares during the period.

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).