Contineum Therapeutics (NASDAQ:CTNM) Sets New 1-Year Low – Should You Sell?

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley lowered their price objective on shares of Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, September 28th. JonesTrading dropped their target price on Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Wall Street Zen downgraded Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, Stifel Nicolaus set a $28.00 target price on Contineum Therapeutics in a research report on Wednesday, September 30th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.17.

Contineum Therapeutics Stock Performance

The business has a 50-day moving average price of $14.62 and a 200 day moving average price of $13.91.

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

Hedge Funds Weigh In On Contineum Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in Contineum Therapeutics by 11.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock worth $35,594,000 after buying an additional 285,857 shares during the period. Baker BROS. Advisors LP boosted its holdings in shares of Contineum Therapeutics by 1,729.3% in the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after buying an additional 1,343,168 shares during the period. Commodore Capital LP acquired a new position in shares of Contineum Therapeutics in the fourth quarter worth about $9,331,000. Wellington Management Group LLP increased its position in shares of Contineum Therapeutics by 171.2% in the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after acquiring an additional 95,188 shares in the last quarter. Finally, Eversept Partners LP increased its position in shares of Contineum Therapeutics by 6.5% in the first quarter. Eversept Partners LP now owns 146,411 shares of the company’s stock worth $1,912,000 after acquiring an additional 8,918 shares in 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.