Contineum Therapeutics (NASDAQ:CTNM) Trading Down 9.1% - Should You Sell?

Key Points

• Contineum Therapeutics shares fell 9.1% to about $14.31 in Friday trading, with volume roughly 76% below the stock’s average daily level.
• Analyst sentiment is mixed: three analysts rate the stock Buy, one Hold and one Sell, resulting in an overall “Hold” consensus and a $20 average price target.
• The company exceeded quarterly earnings expectations, reporting a loss of $0.40 per share versus the $0.46 consensus estimate, while institutional investors—including Baker Bros. Advisors and Suvretta Capital—recently increased their positions.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report)'s stock price traded down 9.1% during trading on Friday . The company traded as low as $14.75 and last traded at $14.3120. Approximately 68,888 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 288,523 shares. The stock had previously closed at $15.75.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CTNM shares. Morgan Stanley upped their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Contineum Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Contineum Therapeutics currently has an average rating of "Hold" and a consensus target price of $20.00.

Contineum Therapeutics Stock Performance

The company's fifty day moving average price is $13.61 and its 200 day moving average price is $13.61. The firm has a market capitalization of $541.37 million, a price-to-earnings ratio of -7.40 and a beta of 0.70.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.06. As a group, sell-side analysts expect that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current year.

Institutional Trading of Contineum Therapeutics

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new stake in Contineum Therapeutics in the fourth quarter valued at $27,906,000. RA Capital Management L.P. bought a new position in shares of Contineum Therapeutics during the third quarter worth about $24,934,000. Baker BROS. Advisors LP increased its holdings in shares of Contineum Therapeutics by 1,729.3% in the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company's stock worth $16,240,000 after acquiring an additional 1,343,168 shares during the period. Suvretta Capital Management LLC increased its holdings in shares of Contineum Therapeutics by 65.2% in the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company's stock worth $32,476,000 after acquiring an additional 1,121,334 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Contineum Therapeutics in the 3rd quarter valued at about $11,178,000.

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). 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.