Contineum Therapeutics (NASDAQ:CTNM) Issues Earnings Results

Contineum Therapeutics (NASDAQ:CTNM) released its quarterly earnings results on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.01, FiscalAI reports.

Contineum Therapeutics Stock Performance

Shares of NASDAQ CTNM traded down $1.05 during mid-day trading on Thursday, reaching $13.81. 397,801 shares of the company traded hands, compared to its average volume of 244,686. The company’s fifty day moving average is $13.31 and its two-hundred day moving average is $11.97. Contineum Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $16.33. The stock has a market cap of $403.02 million, a PE ratio of -6.14 and a beta of 1.07.

Hedge Funds Weigh In On Contineum Therapeutics

A number of institutional investors have recently modified their holdings of CTNM. Ikarian Capital LLC acquired a new stake in shares of Contineum Therapeutics in the fourth quarter worth $3,233,000. Sphera Funds Management LTD. bought a new stake in Contineum Therapeutics during the fourth quarter valued at about $1,983,000. Suvretta Capital Management LLC grew its position in shares of Contineum Therapeutics by 65.2% in the fourth quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock valued at $32,476,000 after purchasing an additional 1,121,334 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Contineum Therapeutics in the fourth quarter worth about $267,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Contineum Therapeutics during the 4th quarter worth about $172,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank Of Canada lowered their target price on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Morgan Stanley restated an “equal weight” rating and set a $14.00 price target (down from $23.00) on shares of Contineum Therapeutics in a report on Thursday, January 8th. Robert W. Baird reduced their price objective on Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Finally, Leerink Partners started coverage on Contineum Therapeutics in a research note on Thursday, November 13th. They issued an “outperform” rating and a $22.00 target price on the stock. Five 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’s stock. According to data from MarketBeat.com, Contineum Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $19.00.

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.