Stock Traders Buy High Volume of Put Options on Contineum Therapeutics (NASDAQ:CTNM)

Contineum Therapeutics, Inc. (NASDAQ:CTNM) saw some unusual options trading activity on Monday. Investors acquired 4,925 put options on the company. This represents an increase of approximately 858% compared to the typical volume of 514 put options.

Hedge Funds Weigh In On Contineum Therapeutics

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its position in Contineum Therapeutics by 11.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock valued at $35,594,000 after acquiring an additional 285,857 shares in the last quarter. Baker BROS. Advisors LP increased its holdings in shares of Contineum Therapeutics by 1,729.3% in the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock valued at $16,240,000 after acquiring an additional 1,343,168 shares during the period. Commodore Capital LP purchased a new position in shares of Contineum Therapeutics in the 4th quarter valued at $9,331,000. Wellington Management Group LLP raised its position in shares of Contineum Therapeutics by 171.2% in the 2nd quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after acquiring an additional 95,188 shares in the last quarter. Finally, Eversept Partners LP raised its position in shares of Contineum Therapeutics by 6.5% in the 1st quarter. Eversept Partners LP now owns 146,411 shares of the company’s stock worth $1,912,000 after acquiring an additional 8,918 shares in the last quarter.

Contineum Therapeutics Stock Up 0.3%

NASDAQ:CTNM traded up $0.02 during mid-day trading on Tuesday, reaching $8.58. The company’s stock had a trading volume of 1,446,665 shares, compared to its average volume of 421,288. Contineum Therapeutics has a 1 year low of $8.10 and a 1 year high of $17.78. The stock has a fifty day moving average of $14.62 and a 200-day moving average of $13.91. The firm has a market capitalization of $322.93 million, a PE ratio of -4.96 and a beta of 0.86.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. Wall Street Zen lowered shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Royal Bank Of Canada lifted their price target 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. Robert W. Baird lowered Contineum Therapeutics from an “outperform” rating to a “neutral” rating and set a $14.00 price target for the company. in a report on Tuesday. Finally, JonesTrading dropped their price objective on Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Contineum Therapeutics presently has a consensus rating of “Hold” and an average target price of $21.33.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.