Contineum Therapeutics (NASDAQ:CTNM) Stock Price Down 3.9% - Time to 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 dropped 3.9% on Friday . The company 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.

Wall Street Analysts Forecast Growth

CTNM has been the subject of a number of recent analyst reports. Morgan Stanley cut 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. Royal Bank Of Canada reiterated an "outperform" rating and set a $31.00 price target on shares of Contineum Therapeutics in a report on Thursday, May 15th. Finally, William Blair assumed coverage on Contineum Therapeutics in a research note on Friday, June 20th. They set an "outperform" rating for the company. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $22.50.

Contineum Therapeutics Trading Down 0.6%

The company has a 50-day moving average price of $4.72 and a two-hundred day moving average price of $5.60. The stock has a market capitalization of $166.34 million, a P/E ratio of -2.92 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). Research analysts forecast that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

Large investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of Contineum Therapeutics during the first quarter worth about $27,000. Legal & General Group Plc lifted its holdings in shares of Contineum Therapeutics by 74.0% in the fourth quarter. Legal & General Group Plc now owns 3,631 shares of the company's stock valued at $53,000 after purchasing an additional 1,544 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Contineum Therapeutics by 73.1% in the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company's stock valued at $76,000 after purchasing an additional 2,202 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Contineum Therapeutics by 90.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company's stock worth $86,000 after buying an additional 2,783 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Contineum Therapeutics in the 1st quarter valued at $93,000.

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).