Contineum Therapeutics (NASDAQ:CTNM) Stock Price Down 5.1% - Should You Sell?

Key Points

• Contineum Therapeutics shares fell 5.1% to about $16.18, with trading volume 55% below the average session volume.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $20.25; targets range from $16 to $23.
• The company exceeded quarterly earnings expectations, reporting a loss of $0.40 per share versus the projected $0.45 loss, though analysts expect a full-year loss of $1.68 per share.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) shares fell 5.1% on Monday . The stock traded as low as $15.99 and last traded at $16.1760. 144,073 shares traded hands during trading, a decline of 55% from the average session volume of 323,558 shares. The stock had previously closed at $17.05.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTNM. Royal Bank Of Canada raised their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Morgan Stanley upped their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Contineum Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, August 23rd. Three equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.25.

Contineum Therapeutics Price Performance

The business has a 50 day moving average price of $14.96 and a 200 day moving average price of $13.99. The firm has a market capitalization of $622.99 million, a P/E ratio of -9.57 and a beta of 0.74.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its 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. As a group, equities analysts expect that Contineum Therapeutics, Inc. will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Contineum Therapeutics in the 1st quarter worth $27,000. Royal Bank of Canada grew 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 buying an additional 2,454 shares in the last quarter. California State Teachers Retirement System bought a new position in Contineum Therapeutics during the second quarter valued at about $99,000. Bank of America Corp DE raised its holdings in Contineum Therapeutics by 500.0% in the 3rd quarter. Bank of America Corp DE now owns 7,236 shares of the company's stock valued at $85,000 after acquiring an additional 6,030 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Contineum Therapeutics in the 2nd quarter worth approximately $43,000.

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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