Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Rating of “Hold” from Brokerages

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.00.

CTNM has been the topic of a number of research reports. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th. Finally, Morgan Stanley boosted their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th.

Institutional Investors Weigh In On Contineum Therapeutics

Institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in Contineum Therapeutics in the first quarter valued at $118,000. Strs Ohio acquired a new stake in Contineum Therapeutics during the 1st quarter worth about $27,000. Norges Bank bought a new position in shares of Contineum Therapeutics in the 2nd quarter worth about $674,000. Qube Research & Technologies Ltd bought a new position in shares of Contineum Therapeutics in the 2nd quarter worth about $43,000. Finally, Jane Street Group LLC acquired a new position in shares of Contineum Therapeutics in the 2nd quarter valued at about $81,000.

Contineum Therapeutics Stock Down 4.1%

Shares of CTNM stock traded down $0.63 during mid-day trading on Tuesday, reaching $14.90. 238,654 shares of the stock traded hands, compared to its average volume of 296,087. The stock’s fifty day simple moving average is $13.26 and its two-hundred day simple moving average is $13.19. Contineum Therapeutics has a 1-year low of $3.72 and a 1-year high of $16.91. The company has a market cap of $557.00 million, a price-to-earnings ratio of -7.68 and a beta of 0.70.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.16. On average, equities research analysts anticipate that Contineum Therapeutics will post -1.68 EPS for the current fiscal year.

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.