Contineum Therapeutics (NASDAQ:CTNM) Reaches New 1-Year Low – Time to Sell?

Contineum Therapeutics, Inc. (NASDAQ:CTNM) reached a new 52-week low on Monday. The stock traded as low as $8.43 and last traded at $8.56, with a volume of 8,462,577 shares. The stock had previously closed at $13.38.

Analysts Set New Price Targets

Several analysts have issued reports on CTNM shares. Wall Street Zen downgraded shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Morgan Stanley decreased their target price on Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada upped their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Robert W. Baird reduced their price objective on Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, September 15th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.17.

Contineum Therapeutics Stock Down 36.0%

The business’s 50-day moving average price is $14.62 and its 200-day moving average price is $13.91.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, research analysts anticipate that Contineum Therapeutics, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of institutional investors have recently modified their holdings of CTNM. Royal Bank of Canada grew its holdings in shares of Contineum Therapeutics by 73.5% during the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after acquiring an additional 2,454 shares in the last quarter. Cannon Global Investment Management LLC purchased a new stake in shares of Contineum Therapeutics during the first quarter worth $170,000. Independent Financial Group LLC purchased a new stake in shares of Contineum Therapeutics during the first quarter worth $353,000. Seven Fleet Capital Management LP purchased a new stake in shares of Contineum Therapeutics during the first quarter worth $353,000. Finally, Bank of America Corp DE boosted its position 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.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.