Contineum Therapeutics (NASDAQ:CTNM) Stock Moved Down to “Neutral” by Robert W. Baird

Contineum Therapeutics (NASDAQ:CTNM) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $14.00 target price on the stock. Robert W. Baird’s price target would indicate a potential upside of 63.30% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. JonesTrading lowered their price target on shares of Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Wall Street Zen cut Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Royal Bank Of Canada increased their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Morgan Stanley decreased their price objective on shares of Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, September 28th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.33.

Contineum Therapeutics Trading Up 0.2%

Shares of CTNM stock traded up $0.01 during trading hours on Tuesday, hitting $8.57. The company’s stock had a trading volume of 285,674 shares, compared to its average volume of 414,530. The stock has a market cap of $322.52 million, a PE ratio of -4.97 and a beta of 0.86. Contineum Therapeutics has a 12-month low of $8.43 and a 12-month high of $17.78. The company has a 50 day moving average of $14.62 and a 200 day moving average of $13.91.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. As a group, analysts anticipate that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Contineum Therapeutics

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of Contineum Therapeutics by 73.5% in the first 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. Eversept Partners LP grew its position in shares of Contineum Therapeutics by 2.1% in the fourth quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock valued at $1,572,000 after purchasing an additional 2,874 shares during the period. Renaissance Technologies LLC increased its stake in shares of Contineum Therapeutics by 21.5% during the 1st quarter. Renaissance Technologies LLC now owns 69,400 shares of the company’s stock valued at $906,000 after acquiring an additional 12,300 shares during the last quarter. Cannon Global Investment Management LLC acquired a new stake in Contineum Therapeutics during the first quarter worth about $170,000. Finally, Independent Financial Group LLC acquired a new position in shares of Contineum Therapeutics during the 1st quarter valued at $353,000.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.