Contineum Therapeutics (NASDAQ:CTNM) Trading 6.8% Higher - Should You Buy?

Key Points

• Contineum Therapeutics shares rose 6.8% to approximately $16.00 in mid-day trading, although volume was 45% below the average session level.
• Analyst sentiment is mixed, with three Buy ratings, one Hold, and one Sell; the consensus rating is Hold with a $20.25 price target, implying potential upside from current levels.
• The company exceeded quarterly earnings expectations, reporting a loss of $0.40 per share versus the projected $0.45 loss, while institutional investors including Baker Bros. Advisors and UBS significantly increased their positions.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report)'s stock price was up 6.8% during mid-day trading on Thursday . The stock traded as high as $15.94 and last traded at $16.00. Approximately 165,442 shares were traded during mid-day trading, a decline of 45% from the average session volume of 302,464 shares. The stock had previously closed at $14.98.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTNM. Wall Street Zen upgraded Contineum Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Morgan Stanley upped their target price on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, May 14th. Royal Bank Of Canada raised their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.25.

Contineum Therapeutics Stock Performance

The firm has a fifty day simple moving average of $13.96 and a 200 day simple moving average of $13.85. The company has a market cap of $598.16 million, a PE ratio of -9.20 and a beta of 0.74.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.05. As a group, equities analysts predict that Contineum Therapeutics, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Trading of Contineum Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. 683 Capital Management LLC acquired a new stake in Contineum Therapeutics in the fourth quarter valued at approximately $1,045,000. UBS Group AG raised its stake in shares of Contineum Therapeutics by 191.1% during the fourth quarter. UBS Group AG now owns 199,389 shares of the company's stock valued at $2,279,000 after purchasing an additional 130,885 shares during the period. Baker BROS. Advisors LP lifted its position in shares of Contineum Therapeutics by 1,729.3% during the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company's stock worth $16,240,000 after purchasing an additional 1,343,168 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Contineum Therapeutics by 11.7% during the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company's stock worth $35,594,000 after purchasing an additional 285,857 shares in the last quarter. Finally, Monashee Investment Management LLC acquired a new position in shares of Contineum Therapeutics during the fourth quarter worth $1,571,000.

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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