Contineum Therapeutics (NASDAQ:CTNM) Trading 8.7% Higher – Still a Buy?

Contineum Therapeutics, Inc. (NASDAQ:CTNM) shot up 8.7% on Wednesday . The stock traded as high as $13.49 and last traded at $13.3980. 18,205 shares traded hands during trading, a decline of 94% from the average session volume of 292,180 shares. The stock had previously closed at $12.33.

Analysts Set New Price Targets

CTNM has been the topic of several recent research reports. Wall Street Zen cut shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Robert W. Baird raised their target price on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, January 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $14.00 price target (down from $23.00) on shares of Contineum Therapeutics in a research note on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Contineum Therapeutics Price Performance

The stock has a 50 day moving average of $13.99 and a two-hundred day moving average of $12.29. The stock has a market capitalization of $497.56 million, a PE ratio of -6.11 and a beta of 1.07.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.01. As a group, research analysts predict that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CTNM. Geode Capital Management LLC boosted its position in shares of Contineum Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 213,869 shares of the company’s stock worth $2,446,000 after buying an additional 2,819 shares in the last quarter. Eversept Partners LP raised its holdings in shares of Contineum Therapeutics by 2.1% in the fourth quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock worth $1,572,000 after acquiring an additional 2,874 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Contineum Therapeutics in the fourth quarter valued at $43,000. Strs Ohio acquired a new stake in shares of Contineum Therapeutics during the first quarter valued at $27,000. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of Contineum Therapeutics by 22.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,673 shares of the company’s stock valued at $259,000 after acquiring an additional 4,177 shares during the last quarter.

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.