Contineum Therapeutics (NASDAQ:CTNM) Trading Up 5.5% – Still a Buy?

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s stock price was up 5.5% during trading on Wednesday . The company traded as high as $15.35 and last traded at $15.3550. Approximately 192,361 shares changed hands during trading, a decline of 35% from the average daily volume of 296,994 shares. The stock had previously closed at $14.56.

Analyst Ratings Changes

CTNM has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.00.

Contineum Therapeutics Stock Down 1.7%

The firm has a market capitalization of $568.14 million, a P/E ratio of -7.80 and a beta of 0.70. The business’s 50 day moving average is $13.41 and its 200-day moving average is $13.27.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.16. Research analysts forecast that Contineum Therapeutics, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTNM. 683 Capital Management LLC acquired a new stake in shares of Contineum Therapeutics in the 4th quarter valued at approximately $1,045,000. UBS Group AG lifted its stake in Contineum Therapeutics by 191.1% in the 4th quarter. UBS Group AG now owns 199,389 shares of the company’s stock valued at $2,279,000 after purchasing an additional 130,885 shares during the last quarter. Baker BROS. Advisors LP lifted its stake in 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 purchasing an additional 1,343,168 shares during the last quarter. Monashee Investment Management LLC acquired a new stake in Contineum Therapeutics in the fourth quarter valued at approximately $1,571,000. Finally, Commodore Capital LP acquired a new stake in Contineum Therapeutics in the fourth quarter valued at approximately $9,331,000.

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.