Contineum Therapeutics (NASDAQ:CTNM) Trading 8.7% Higher – Still a Buy?

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s share price was up 8.7% during trading on Wednesday . The stock traded as high as $13.49 and last traded at $13.3980. Approximately 18,205 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 292,180 shares. The stock had previously closed at $12.33.

Analyst Ratings Changes

A number of research firms have weighed in on CTNM. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, January 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $14.00 target price (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th. Wall Street Zen lowered shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Robert W. Baird boosted their price target on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Contineum Therapeutics Stock Up 8.1%

The firm has a 50-day simple moving average of $13.99 and a 200 day simple moving average of $12.29. The company has a market cap of $497.56 million, a price-to-earnings ratio of -6.11 and a beta of 1.07.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.01. As a group, research analysts expect that Contineum Therapeutics, Inc. will post -2.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in shares of Contineum Therapeutics during the first quarter worth about $27,000. Qube Research & Technologies Ltd purchased a new stake in Contineum Therapeutics during the 2nd quarter valued at approximately $43,000. China Universal Asset Management Co. Ltd. acquired a new stake in Contineum Therapeutics during the 4th quarter worth approximately $43,000. Marex Group plc acquired a new stake in Contineum Therapeutics during the 2nd quarter worth approximately $45,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Contineum Therapeutics in the second quarter valued at approximately $76,000.

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.