Contineum Therapeutics (NASDAQ:CTNM) Shares Up 7.5% - Time to Buy?

Key Points

• Shares jumped 7.5% intraday to about $14.20 on Monday with ~317,000 shares traded (13% above average), and the stock is trading above its 50‑day ($13.48) and 200‑day ($12.53) moving averages.
• Analysts are mixed but lean positive overall: MarketBeat shows a consensus rating of "Moderate Buy" with a $19.50 average price target, while individual views range from Weiss Ratings' "sell" to Robert W. Baird's "outperform" ($20) and Morgan Stanley's "equal weight" ($14).
• Several large institutions (Suvretta, Janus, RA Capital, Franklin, Balyasny) have recently increased stakes, and Contineum is a clinical‑stage biotech focused on oral small‑molecule programs led by PIPE‑791 for IPF and progressive MS, but remains loss‑making (PE -6.49; FY EPS estimate -2.09).

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report)'s share price shot up 7.5% during mid-day trading on Monday . The company traded as high as $14.26 and last traded at $14.1950. 317,023 shares changed hands during trading, an increase of 13% from the average session volume of 280,865 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTNM. Weiss Ratings reissued a "sell (d-)" rating on shares of Contineum Therapeutics in a research report on Monday, April 20th. Robert W. Baird boosted their price objective on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, March 6th. Wall Street Zen downgraded shares of Contineum Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $14.00 target price (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Contineum Therapeutics Stock Performance

The stock's 50-day moving average price is $13.48 and its two-hundred day moving average price is $12.53. The stock has a market capitalization of $528.36 million, a PE ratio of -6.49 and a beta of 0.89.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last released its earnings results on Thursday, March 5th. The company reported ($0.49) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.01. On average, analysts predict that Contineum Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Institutional Trading of Contineum Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Suvretta Capital Management LLC grew its position in Contineum Therapeutics by 65.2% during the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company's stock valued at $32,476,000 after purchasing an additional 1,121,334 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Contineum Therapeutics during the 4th quarter valued at about $27,906,000. RA Capital Management L.P. grew its position in Contineum Therapeutics by 2.7% during the 4th quarter. RA Capital Management L.P. now owns 2,179,711 shares of the company's stock valued at $24,914,000 after purchasing an additional 57,711 shares during the last quarter. Franklin Resources Inc. grew its position in Contineum Therapeutics by 13.5% during the 4th quarter. Franklin Resources Inc. now owns 1,879,367 shares of the company's stock valued at $21,481,000 after purchasing an additional 223,819 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Contineum Therapeutics by 93.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,842,800 shares of the company's stock valued at $21,063,000 after purchasing an additional 891,480 shares during the last quarter.

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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