Contineum Therapeutics (NASDAQ:CTNM) Posts Earnings Results, Beats Expectations By $0.01 EPS

Contineum Therapeutics (NASDAQ:CTNM) issued its earnings results on Thursday. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.01, FiscalAI reports.

Contineum Therapeutics Trading Down 7.1%

CTNM stock traded down $1.05 during midday trading on Thursday, hitting $13.81. 397,801 shares of the company’s stock were exchanged, compared to its average volume of 244,686. The firm has a 50 day moving average price of $13.31 and a 200-day moving average price of $11.97. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $16.33. The stock has a market capitalization of $403.02 million, a price-to-earnings ratio of -6.14 and a beta of 1.07.

Institutional Trading of Contineum Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in Contineum Therapeutics during the 1st quarter worth $27,000. Qube Research & Technologies Ltd bought a new position in shares of Contineum Therapeutics during the second quarter worth about $43,000. Marex Group plc acquired a new position in Contineum Therapeutics in the second quarter worth about $45,000. Bridgeway Capital Management LLC bought a new stake in Contineum Therapeutics in the second quarter valued at about $76,000. Finally, Jane Street Group LLC bought a new stake in Contineum Therapeutics in the second quarter valued at about $81,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CTNM shares. Leerink Partners initiated coverage on Contineum Therapeutics in a report on Thursday, November 13th. They issued an “outperform” rating and a $22.00 price objective on the stock. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Robert W. Baird decreased their price target on shares of Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price target (down from $23.00) on shares of Contineum Therapeutics in a report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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). 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.