Contineum Therapeutics, Inc. (NASDAQ:CTNM) Sees Significant Decline in Short Interest

Contineum Therapeutics, Inc. (NASDAQ:CTNM) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 1,605,258 shares, a decline of 48.2% from the April 15th total of 3,098,809 shares. Approximately 4.8% of the shares of the company are sold short. Based on an average daily volume of 239,404 shares, the days-to-cover ratio is currently 6.7 days.

Contineum Therapeutics Price Performance

Shares of CTNM stock traded down $0.49 on Friday, hitting $13.72. 181,201 shares of the company’s stock were exchanged, compared to its average volume of 209,139. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.33. The stock has a market cap of $512.99 million, a P/E ratio of -7.04 and a beta of 0.89. The company has a 50 day moving average of $13.27 and a 200 day moving average of $12.70.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.16. Sell-side analysts predict that Contineum Therapeutics will post -1.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley boosted their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Monday, April 20th. Finally, Robert W. Baird upped their target price on Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Contineum Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Institutional Trading of Contineum Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. bought a new stake in shares of Contineum Therapeutics during the 4th quarter worth $43,000. Strs Ohio bought a new stake in shares of Contineum Therapeutics during the 1st quarter worth $27,000. Bank of America Corp DE lifted its position in shares of Contineum Therapeutics by 500.0% during the 3rd quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock worth $85,000 after buying an additional 6,030 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth $43,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Contineum Therapeutics during the 4th quarter worth $130,000.

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.