Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) shares were up 6.3% on Wednesday . The company traded as high as $14.81 and last traded at $14.7690. 82,522 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 293,597 shares. The stock had previously closed at $13.90.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of 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 report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Contineum Therapeutics in a research report on Friday. Three 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.00.
Check Out Our Latest Research Report on CTNM
Contineum Therapeutics Price Performance
The firm's 50 day moving average is $13.49 and its two-hundred day moving average is $13.39. The firm has a market capitalization of $553.93 million, a P/E ratio of -7.60 and a beta of 0.70.
Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.16. Analysts anticipate that Contineum Therapeutics, Inc. will post -1.68 EPS for the current fiscal year.
Institutional Trading of Contineum Therapeutics
A number of hedge funds have recently made changes to their positions in CTNM. Seven Fleet Capital Management LP bought a new position in shares of Contineum Therapeutics during the 1st quarter worth approximately $353,000. Bank of America Corp DE lifted its holdings in Contineum Therapeutics by 411.9% during the 1st quarter. Bank of America Corp DE now owns 47,449 shares of the company's stock valued at $620,000 after purchasing an additional 38,180 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Contineum Therapeutics by 11.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company's stock valued at $35,594,000 after purchasing an additional 285,857 shares during the last quarter. Royal Bank of Canada boosted its position in 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 purchasing an additional 2,454 shares during the period. Finally, Eversept Partners LP boosted its position in Contineum Therapeutics by 6.5% during the first quarter. Eversept Partners LP now owns 146,411 shares of the company's stock worth $1,912,000 after purchasing an additional 8,918 shares during the period.
About Contineum Therapeutics
(
Get Free Report)
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.
Further Reading
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