Contineum Therapeutics (NASDAQ:CTNM) Issues Earnings Results

Contineum Therapeutics (NASDAQ:CTNM) announced its earnings results on Thursday. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.06, FiscalAI reports.

Contineum Therapeutics Price Performance

Shares of CTNM stock traded up $1.37 during mid-day trading on Thursday, hitting $15.75. The company had a trading volume of 337,660 shares, compared to its average volume of 290,381. The stock’s 50 day moving average price is $13.61 and its 200-day moving average price is $13.61. Contineum Therapeutics has a 52-week low of $5.07 and a 52-week high of $16.91. The company has a market capitalization of $588.83 million, a P/E ratio of -8.08 and a beta of 0.70.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Contineum Therapeutics in the first quarter worth about $118,000. Strs Ohio purchased a new stake in shares of Contineum Therapeutics during the 1st quarter worth approximately $27,000. Norges Bank bought a new position in shares of Contineum Therapeutics during the 2nd quarter valued at approximately $674,000. Qube Research & Technologies Ltd purchased a new position in shares of Contineum Therapeutics in the second quarter valued at $43,000. Finally, Jane Street Group LLC purchased a new position in shares of Contineum Therapeutics in the second quarter valued at $81,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. 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 research report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

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.