Contineum Therapeutics (NASDAQ:CTNM) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Contineum Therapeutics (NASDAQ:CTNM) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other analysts have also commented on the company. Morgan Stanley lifted their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 14th. Royal Bank Of Canada upped their target price on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.25.

Contineum Therapeutics Stock Performance

Shares of CTNM opened at $14.53 on Friday. The firm has a market capitalization of $546.62 million, a price-to-earnings ratio of -8.40 and a beta of 0.74. The business’s fifty day moving average price is $14.13 and its two-hundred day moving average price is $13.87. Contineum Therapeutics has a 52 week low of $7.26 and a 52 week high of $16.91.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.05. As a group, research analysts forecast that Contineum Therapeutics will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Contineum Therapeutics during the first quarter worth $118,000. Strs Ohio acquired a new position in Contineum Therapeutics in the first quarter valued at about $27,000. Norges Bank acquired a new position in Contineum Therapeutics in the second quarter valued at about $674,000. Qube Research & Technologies Ltd acquired a new position in Contineum Therapeutics in the second quarter valued at about $43,000. Finally, Jane Street Group LLC bought a new position in Contineum Therapeutics during the second quarter worth about $81,000.

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.