Contineum Therapeutics (NASDAQ:CTNM) Stock Price Down 2.7% - Time to Sell?

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) dropped 2.7% during trading on Friday . The stock traded as low as $3.89 and last traded at $3.92. Approximately 58,232 shares were traded during trading, a decline of 36% from the average daily volume of 90,850 shares. The stock had previously closed at $4.03.

Analyst Ratings Changes

CTNM has been the topic of several research analyst reports. Morgan Stanley decreased their target price on shares of Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Royal Bank Of Canada restated an "outperform" rating and set a $31.00 target price on shares of Contineum Therapeutics in a research report on Thursday, May 15th. Finally, William Blair initiated coverage on shares of Contineum Therapeutics in a research report on Friday, June 20th. They set an "outperform" rating on the stock. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $22.50.

Contineum Therapeutics Stock Performance

The company has a market capitalization of $97.53 million, a PE ratio of -1.91 and a beta of 0.85. The stock's fifty day simple moving average is $4.04 and its 200-day simple moving average is $6.67.

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

Institutional Trading of Contineum Therapeutics

Hedge funds have recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in shares of Contineum Therapeutics during the fourth quarter valued at approximately $236,000. Bank of America Corp DE raised its stake in shares of Contineum Therapeutics by 63.4% during the fourth quarter. Bank of America Corp DE now owns 9,132 shares of the company's stock valued at $134,000 after purchasing an additional 3,542 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Contineum Therapeutics in the fourth quarter worth $195,000. Barclays PLC increased its stake in shares of Contineum Therapeutics by 96.0% in the fourth quarter. Barclays PLC now owns 16,286 shares of the company's stock worth $239,000 after buying an additional 7,978 shares during the last quarter. Finally, Geode Capital Management LLC increased 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 worth $2,761,000 after buying an additional 59,732 shares during 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).