Contineum Therapeutics (NASDAQ:CTNM) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Contineum Therapeutics (NASDAQ:CTNM) from a hold rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

A number of other research firms have also recently commented on CTNM. Robert W. Baird reduced their target price on Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada increased their price objective 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, JonesTrading decreased their price objective on Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Four equities research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Contineum Therapeutics Price Performance

Shares of Contineum Therapeutics stock opened at $13.53 on Friday. Contineum Therapeutics has a 1 year low of $8.60 and a 1 year high of $17.78. The firm has a market cap of $509.00 million, a PE ratio of -7.82 and a beta of 0.75. The company has a 50 day simple moving average of $15.23 and a two-hundred day simple moving average of $14.00.

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

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds have recently modified their holdings of CTNM. Royal Bank of Canada raised its stake in shares of Contineum Therapeutics by 73.5% during the first 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 during the last quarter. Eversept Partners LP increased its holdings in Contineum Therapeutics by 2.1% during the 4th quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock valued at $1,572,000 after purchasing an additional 2,874 shares during the period. Renaissance Technologies LLC increased its holdings in Contineum Therapeutics by 21.5% during the 1st quarter. Renaissance Technologies LLC now owns 69,400 shares of the company’s stock valued at $906,000 after purchasing an additional 12,300 shares during the period. Cannon Global Investment Management LLC bought a new position in Contineum Therapeutics during the 1st quarter valued at approximately $170,000. Finally, Independent Financial Group LLC purchased a new stake in Contineum Therapeutics in the 1st quarter worth approximately $353,000.

Contineum Therapeutics Company Profile

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.