Contineum Therapeutics (NASDAQ:CTNM) Sets New 1-Year High – What’s Next?

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $17.55 and last traded at $17.5050, with a volume of 26867 shares changing hands. The stock had previously closed at $17.24.

Analysts Set New Price Targets

CTNM has been the topic of a number of research reports. Morgan Stanley upped their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Royal Bank Of Canada raised their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.25.

Contineum Therapeutics Price Performance

The stock’s 50 day moving average is $15.23 and its two-hundred day moving average is $14.02. The stock has a market capitalization of $661.13 million, a PE ratio of -10.16 and a beta of 0.75.

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

Hedge Funds Weigh In On Contineum Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Contineum Therapeutics during the first quarter worth about $27,000. Qube Research & Technologies Ltd acquired a new position in shares of Contineum Therapeutics in the second quarter valued at approximately $43,000. Marex Group plc purchased a new stake in shares of Contineum Therapeutics during the second quarter worth approximately $45,000. Royal Bank of Canada lifted its holdings 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 purchasing an additional 2,454 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new position in Contineum Therapeutics in the 2nd quarter valued at $76,000.

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.