Contineum Therapeutics (NASDAQ:CTNM) Trading Down 4.9% – What’s Next?

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s share price fell 4.9% during mid-day trading on Friday . The company traded as low as $14.69 and last traded at $14.5450. 114,415 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 302,593 shares. The stock had previously closed at $15.30.

Analyst Upgrades and Downgrades

CTNM has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Morgan Stanley increased their target price on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada boosted their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Three investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.25.

Contineum Therapeutics Price Performance

The company has a fifty day moving average price of $14.02 and a 200 day moving average price of $13.86. The company has a market capitalization of $550.72 million, a P/E ratio of -8.45 and a beta of 0.74.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. On average, equities research analysts predict that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Contineum Therapeutics

Several hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new position in Contineum Therapeutics in the 1st quarter worth about $27,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Contineum Therapeutics during the fourth quarter valued at approximately $43,000. Qube Research & Technologies Ltd bought a new stake in shares of Contineum Therapeutics during the second quarter valued at approximately $43,000. Marex Group plc acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $45,000. Finally, Royal Bank of Canada boosted its position in shares of 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 during the period.

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.