Contineum Therapeutics (NASDAQ:CTNM) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) saw strong trading volume on Monday . Approximately 1,508,580 shares were traded during mid-day trading, an increase of 394% from the previous session’s volume of 305,110 shares.The stock last traded at $14.9450 and had previously closed at $14.19.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank Of Canada upped their target price on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Morgan Stanley boosted their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Three research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.25.

Contineum Therapeutics Trading Up 2.9%

The firm’s 50-day simple moving average is $14.07 and its 200 day simple moving average is $13.87. The stock has a market cap of $549.25 million, a P/E ratio of -8.44 and a beta of 0.74.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new stake in Contineum Therapeutics in the first quarter worth about $27,000. China Universal Asset Management Co. Ltd. acquired a new position in Contineum Therapeutics during the 4th quarter valued at about $43,000. Qube Research & Technologies Ltd bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth about $43,000. Marex Group plc acquired a new stake in shares of Contineum Therapeutics in the 2nd quarter worth approximately $45,000. Finally, Royal Bank of Canada boosted its holdings in shares of Contineum Therapeutics by 73.5% in the first quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after acquiring an additional 2,454 shares in the last quarter.

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.