Contineum Therapeutics (NASDAQ:CTNM) Trading Down 4.9% - What's Next?

Key Points

• Contineum Therapeutics shares fell 4.9% to about $14.55 in mid-day trading, while volume was 62% below the average session level.
• Analyst sentiment remains mixed: the stock has an overall “Hold” consensus and a $20.25 average price target, with ratings ranging from “Sell” to “Outperform.”
• The company reported a quarterly loss of $0.40 per share, beating estimates for a $0.45 loss; analysts expect a full-year loss of approximately $1.68 per share.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report)'s share price fell 4.9% during mid-day trading on Friday . The company traded as low as $14.69 and last traded at $14.5450. 114,415 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 302,593 shares. The stock had previously closed at $15.30.

Analyst Upgrades and Downgrades

CTNM has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Morgan Stanley increased their target price on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Thursday, May 14th. Wall Street Zen upgraded Contineum Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada boosted their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $20.25.

Contineum Therapeutics Price Performance

The company has a fifty day moving average price of $14.02 and a 200 day moving average price of $13.86. The company has a market capitalization of $550.72 million, a P/E ratio of -8.45 and a beta of 0.74.

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

Institutional Trading of Contineum Therapeutics

Several hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new position in Contineum Therapeutics in the 1st quarter worth about $27,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Contineum Therapeutics during the fourth quarter valued at approximately $43,000. Qube Research & Technologies Ltd bought a new stake in shares of Contineum Therapeutics during the second quarter valued at approximately $43,000. Marex Group plc acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $45,000. Finally, Royal Bank of Canada boosted its position in shares of Contineum Therapeutics by 73.5% during the first quarter. Royal Bank of Canada now owns 5,794 shares of the company's stock worth $76,000 after buying an additional 2,454 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source