Contineum Therapeutics (NASDAQ:CTNM) Stock Price Up 6.3% – Should You Buy?

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s share price rose 6.3% during mid-day trading on Wednesday . The stock traded as high as $14.81 and last traded at $14.7690. 82,522 shares were traded during mid-day trading, a decline of 72% from the average session volume of 293,597 shares. The stock had previously closed at $13.90.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CTNM shares. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Finally, Morgan Stanley increased their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Three investment 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. According to data from MarketBeat.com, Contineum Therapeutics presently has an average rating of “Hold” and an average target price of $20.00.

Contineum Therapeutics Stock Down 2.4%

The stock has a market cap of $537.29 million, a price-to-earnings ratio of -7.37 and a beta of 0.70. The stock’s fifty day moving average is $13.51 and its 200-day moving average is $13.44.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.16. As a group, equities research analysts predict that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Suvretta Capital Management LLC increased its holdings in shares of Contineum Therapeutics by 65.2% in the fourth quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after acquiring an additional 1,121,334 shares in the last quarter. Janus Henderson Group PLC lifted its holdings 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 purchasing an additional 285,857 shares in the last quarter. RA Capital Management L.P. grew its position in shares of Contineum Therapeutics by 2.7% in the 4th quarter. RA Capital Management L.P. now owns 2,179,711 shares of the company’s stock valued at $24,914,000 after purchasing an additional 57,711 shares during the period. Franklin Resources Inc. grew its position in shares of Contineum Therapeutics by 13.5% in the 4th quarter. Franklin Resources Inc. now owns 1,879,367 shares of the company’s stock valued at $21,481,000 after purchasing an additional 223,819 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in Contineum Therapeutics by 93.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,842,800 shares of the company’s stock worth $21,063,000 after purchasing an additional 891,480 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.