Contineum Therapeutics (NASDAQ:CTNM) Trading Up 5.5% – What’s Next?

Contineum Therapeutics, Inc. (NASDAQ:CTNM) shares rose 5.5% on Wednesday . The company traded as high as $15.35 and last traded at $15.3550. 192,361 shares were traded during trading, a decline of 35% from the average daily volume of 296,994 shares. The stock had previously closed at $14.56.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley increased their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

Contineum Therapeutics Stock Up 8.1%

The firm has a market capitalization of $588.64 million, a price-to-earnings ratio of -8.07 and a beta of 0.70. The firm’s 50 day moving average is $13.30 and its 200 day moving average is $13.21.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.16. On average, sell-side analysts predict that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

A number of institutional investors have recently bought and sold shares of CTNM. Dynamic Technology Lab Private Ltd purchased a new stake in Contineum Therapeutics during the first quarter valued at about $118,000. Strs Ohio acquired a new stake in shares of Contineum Therapeutics during the first quarter valued at approximately $27,000. Norges Bank acquired a new stake in shares of Contineum Therapeutics during the second quarter valued at approximately $674,000. Qube Research & Technologies Ltd purchased a new stake in shares of Contineum Therapeutics in the 2nd quarter valued at approximately $43,000. Finally, Jane Street Group LLC purchased a new stake in shares of Contineum Therapeutics in the 2nd quarter valued at approximately $81,000.

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.