Contineum Therapeutics (NASDAQ:CTNM) Shares Down 3.9% - Should You Sell?

Key Points

• Contineum Therapeutics shares fell by 3.9% to a last trading price of $6.47, with a significant decrease in trading volume compared to the average.
• Despite the recent decline, five analysts have rated the stock as a buy, contributing to an average price target of $22.50.
• The company's earnings report revealed a loss of ($0.62) per share, missing analysts' expectations and leading to projected earnings of -2.01 for the current year.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) shares were down 3.9% on Friday . The stock traded as low as $6.25 and last traded at $6.47. Approximately 183,759 shares traded hands during trading, a decline of 43% from the average daily volume of 321,049 shares. The stock had previously closed at $6.73.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTNM shares. Morgan Stanley decreased their price target on shares of Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. William Blair started coverage on shares of Contineum Therapeutics in a research note on Friday, June 20th. They set an "outperform" rating for the company. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $31.00 price target on shares of Contineum Therapeutics in a research note on Thursday, May 15th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $22.50.

Contineum Therapeutics Trading Up 1.6%

The business has a 50 day moving average of $4.76 and a two-hundred day moving average of $5.61. The firm has a market cap of $177.38 million, a P/E ratio of -3.12 and a beta of 1.04.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts predict that Contineum Therapeutics, Inc. will post -2.01 EPS for the current year.

Institutional Trading of Contineum Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of Contineum Therapeutics during the first quarter worth approximately $27,000. Legal & General Group Plc grew its position in 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 in the last quarter. Corebridge Financial Inc. increased its stake in Contineum Therapeutics by 73.1% during the 4th quarter. Corebridge Financial Inc. now owns 5,215 shares of the company's stock worth $76,000 after acquiring an additional 2,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Contineum Therapeutics by 90.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company's stock valued at $86,000 after acquiring an additional 2,783 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Contineum Therapeutics in the 1st quarter valued at $93,000.

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).