JonesTrading Cuts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $24.00

Contineum Therapeutics (NASDAQ:CTNM) had its price objective cut by JonesTrading from $26.00 to $24.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also commented on CTNM. Royal Bank Of Canada lifted their price objective on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Robert W. Baird decreased their target price on Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.80.

Contineum Therapeutics Price Performance

Shares of CTNM opened at $13.21 on Tuesday. The company has a market capitalization of $496.96 million, a PE ratio of -7.64 and a beta of 0.75. Contineum Therapeutics has a one year low of $8.60 and a one year high of $17.78. The company’s fifty day moving average price is $15.26 and its 200 day moving average price is $14.01.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. Analysts anticipate that Contineum Therapeutics will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Seven Fleet Capital Management LP lifted its stake in shares of Contineum Therapeutics by 123.8% in the second quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company’s stock valued at $992,000 after buying an additional 33,487 shares during the period. Wellington Management Group LLP raised its holdings in Contineum Therapeutics by 171.2% in the 2nd quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock valued at $2,472,000 after acquiring an additional 95,188 shares in the last quarter. Bank of America Corp DE raised its holdings in Contineum Therapeutics by 411.9% in the 1st quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock valued at $620,000 after acquiring an additional 38,180 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Contineum Therapeutics by 11.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock worth $35,594,000 after acquiring an additional 285,857 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after acquiring an additional 2,454 shares during the period.

About Contineum Therapeutics

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company’s research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum’s lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.