Contineum Therapeutics (NASDAQ:CTNM) Sets New 1-Year High - What's Next?

Key Points

• Contineum Therapeutics shares reached a new 52-week high of $17.55, with the stock last trading near $17.51 and a market capitalization of approximately $661 million.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy, one rates it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $20.25.
• The company exceeded quarterly earnings expectations, reporting a loss of $0.40 per share versus the expected $0.45 loss. Contineum is developing oral therapies targeting neuroscience, inflammation and immunology conditions.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $17.55 and last traded at $17.5050, with a volume of 26867 shares trading hands. The stock had previously closed at $17.24.

Wall Street Analyst Weigh In

A number of analysts have commented on CTNM shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada increased their target price on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Morgan Stanley boosted their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Contineum Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, August 23rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.25.

Contineum Therapeutics Stock Performance

The firm has a market capitalization of $661.13 million, a P/E ratio of -10.16 and a beta of 0.75. The stock's 50 day simple moving average is $15.23 and its 200 day simple moving average is $14.02.

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, beating the consensus estimate of ($0.45) by $0.05. On average, analysts anticipate that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company's stock valued at $76,000 after purchasing an additional 2,454 shares during the last quarter. Geode Capital Management LLC lifted its position in Contineum Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 213,869 shares of the company's stock valued at $2,446,000 after buying an additional 2,819 shares during the last quarter. Eversept Partners LP boosted its stake in Contineum Therapeutics by 2.1% during the fourth quarter. Eversept Partners LP now owns 137,493 shares of the company's stock worth $1,572,000 after buying an additional 2,874 shares during the period. Strs Ohio acquired a new stake in shares of Contineum Therapeutics during the first quarter valued at about $27,000. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Contineum Therapeutics by 22.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,673 shares of the company's stock valued at $259,000 after acquiring an additional 4,177 shares during the last quarter.

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.

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