Contineum Therapeutics (NASDAQ:CTNM) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Contineum Therapeutics from “hold” to “sell,” while other analyst views remain mixed. The stock has an average “hold” rating and a consensus price target of $20.25.
• CTNM shares opened at $14.19 after falling 7.3%, with a 52-week range of $7.20 to $16.91 and a market capitalization of approximately $533.8 million.
• Contineum reported a quarterly loss of $0.40 per share, beating analysts’ expected loss of $0.45. Several hedge funds have recently established or expanded positions in the clinical-stage biopharmaceutical company.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also weighed in on CTNM. Royal Bank Of Canada upped their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Finally, Morgan Stanley raised their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Contineum Therapeutics currently has an average rating of "Hold" and an average target price of $20.25.

Contineum Therapeutics Stock Down 7.3%

CTNM stock opened at $14.19 on Friday. Contineum Therapeutics has a twelve month low of $7.20 and a twelve month high of $16.91. The stock has a market cap of $533.83 million, a P/E ratio of -8.20 and a beta of 0.74. The business's 50-day moving average price is $14.07 and its 200-day moving average price is $13.86.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.05. On average, equities research analysts expect that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC bought a new position in shares of Contineum Therapeutics during the fourth quarter worth $27,906,000. RA Capital Management L.P. bought a new stake in Contineum Therapeutics in the 3rd quarter valued at $24,934,000. Baker BROS. Advisors LP increased its holdings in Contineum Therapeutics by 1,729.3% in the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company's stock valued at $16,240,000 after acquiring an additional 1,343,168 shares during the last quarter. Suvretta Capital Management LLC lifted its stake in Contineum Therapeutics by 65.2% in the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company's stock worth $32,476,000 after purchasing an additional 1,121,334 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Contineum Therapeutics in the 3rd quarter worth $11,178,000.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.

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