Contineum Therapeutics, Inc.’s (NASDAQ:CTNM) Quiet Period Set To End on May 15th

Contineum Therapeutics’ (NASDAQ:CTNM) quiet period will expire on Wednesday, May 15th. Contineum Therapeutics had issued 6,875,000 shares in its initial public offering on April 5th. The total size of the offering was $110,000,000 based on an initial share price of $16.00. During Contineum Therapeutics’ quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTNM. Stifel Nicolaus started coverage on Contineum Therapeutics in a research note on Tuesday, April 30th. They issued a “buy” rating and a $29.00 price objective on the stock. Morgan Stanley started coverage on Contineum Therapeutics in a research report on Tuesday, April 30th. They set an “overweight” rating and a $25.00 price target on the stock. Finally, Royal Bank of Canada assumed coverage on Contineum Therapeutics in a report on Tuesday, April 30th. They issued an “outperform” rating and a $30.00 price objective for the company.

Contineum Therapeutics Stock Up 2.1 %

Shares of NASDAQ:CTNM opened at $16.02 on Friday. Contineum Therapeutics has a 12-month low of $13.27 and a 12-month high of $16.09.

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).