Contineum Therapeutics, Inc. (NASDAQ:CTNM) Stock Now Rated “Hold” by Sell-Side Analysts

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $21.50.

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Robert W. Baird lowered shares of Contineum Therapeutics from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $14.00 in a report on Tuesday, October 13th. Wall Street Zen lowered Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. JonesTrading raised their target price on Contineum Therapeutics from $24.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Finally, Stifel Nicolaus set a $23.00 price objective on shares of Contineum Therapeutics in a research note on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Seven Fleet Capital Management LP boosted its stake in Contineum Therapeutics by 123.8% during the 2nd quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company’s stock valued at $992,000 after acquiring an additional 33,487 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of 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. Wellington Management Group LLP lifted its stake in Contineum Therapeutics by 171.2% during the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after purchasing an additional 95,188 shares during the last quarter. Bank of America Corp DE increased its stake in Contineum Therapeutics by 411.9% during the first quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock valued at $620,000 after purchasing an additional 38,180 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Contineum Therapeutics during the first quarter worth $782,000.

Contineum Therapeutics Stock Performance

CTNM stock opened at $9.52 on Monday. The company has a 50 day moving average price of $11.95 and a two-hundred day moving average price of $13.48. The stock has a market capitalization of $358.14 million, a P/E ratio of -5.38 and a beta of 1.08. Contineum Therapeutics has a one year low of $6.72 and a one year high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.04). Research analysts forecast that Contineum Therapeutics will post -1.76 earnings per share for the current fiscal year.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for neurological and neuroinflammatory diseases. The company’s research is centered on restoring nervous-system function and addressing conditions in which inflammation or damage to myelin contributes to disease progression.

Contineum’s lead programs include PIPE-307, an oral, selective M1 muscarinic receptor antagonist being studied for its potential to promote remyelination in multiple sclerosis, and PIPE-791, an oral, central nervous system-penetrant LPA1 antagonist being developed for progressive multiple sclerosis and other fibrotic or neuroinflammatory conditions.