Contineum Therapeutics (NASDAQ:CTNM) Rating Lowered to Sell at Wall Street Zen

Contineum Therapeutics (NASDAQ:CTNM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other research analysts also recently issued reports about the stock. Royal Bank Of Canada lowered their price objective on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Leerink Partners started coverage on shares of Contineum Therapeutics in a research note on Thursday, November 13th. They set an “outperform” rating and a $22.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating and set a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a report on Thursday. Finally, Leerink Partnrs raised Contineum Therapeutics to a “strong-buy” rating in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Contineum Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Contineum Therapeutics Trading Up 1.5%

Shares of CTNM stock opened at $9.31 on Friday. The company has a market capitalization of $271.69 million, a price-to-earnings ratio of -4.14 and a beta of 1.21. Contineum Therapeutics has a 1-year low of $3.35 and a 1-year high of $13.57. The stock’s fifty day simple moving average is $11.24 and its 200-day simple moving average is $9.62.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.13. On average, sell-side analysts predict that Contineum Therapeutics will post -2.01 EPS for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Several institutional investors have recently bought and sold shares of CTNM. Strs Ohio bought a new stake in shares of Contineum Therapeutics during the 1st quarter worth about $27,000. Bank of America Corp DE lifted 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 worth $85,000 after purchasing an additional 6,030 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Contineum Therapeutics during the second quarter worth approximately $43,000. Marex Group plc bought a new stake in Contineum Therapeutics during the second quarter worth approximately $45,000. Finally, Bailard Inc. acquired a new position in Contineum Therapeutics during the third quarter valued at approximately $145,000.

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.