Contineum Therapeutics (NASDAQ:CTNM) Stock Rating Upgraded by Wall Street Zen

Contineum Therapeutics (NASDAQ:CTNM) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts have also recently issued research reports about the stock. Morgan Stanley lifted their price target on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, October 8th. Leerink Partners began coverage on Contineum Therapeutics in a report on Thursday, September 25th. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Leerink Partnrs raised Contineum Therapeutics to a “strong-buy” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Contineum Therapeutics Stock Down 0.7%

Shares of Contineum Therapeutics stock opened at $10.93 on Friday. The company’s fifty day simple moving average is $11.43 and its two-hundred day simple moving average is $7.34. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $20.24. The firm has a market cap of $318.94 million, a PE ratio of -4.86 and a beta of 1.27.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.13. As a group, sell-side analysts expect that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in Contineum Therapeutics by 7.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,698,825 shares of the company’s stock valued at $6,744,000 after acquiring an additional 122,644 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Contineum Therapeutics by 29.6% in the third quarter. Vanguard Group Inc. now owns 964,232 shares of the company’s stock worth $11,330,000 after purchasing an additional 220,231 shares during the last quarter. Norges Bank bought a new position in shares of Contineum Therapeutics during the second quarter valued at $674,000. ADAR1 Capital Management LLC boosted its position in shares of Contineum Therapeutics by 105.2% during the first quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock valued at $1,178,000 after buying an additional 86,531 shares during the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in shares of Contineum Therapeutics during the second quarter valued at $298,000.

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).