Contineum Therapeutics, Inc. (NASDAQ:CTNM) Given Average Recommendation of “Hold” by Brokerages

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have received an average rating of “Hold” from the five analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.00.

CTNM has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Morgan Stanley lifted their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th.

Contineum Therapeutics Price Performance

NASDAQ CTNM opened at $15.00 on Tuesday. The company has a market capitalization of $560.85 million, a PE ratio of -7.69 and a beta of 0.89. The company has a fifty day moving average of $13.02 and a 200 day moving average of $13.07. Contineum Therapeutics has a 1 year low of $3.72 and a 1 year high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.16. Research analysts expect that Contineum Therapeutics will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suvretta Capital Management LLC grew its stake in Contineum Therapeutics by 65.2% in the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock valued at $32,476,000 after acquiring an additional 1,121,334 shares during the period. Janus Henderson Group PLC increased its holdings in 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 in the last quarter. RA Capital Management L.P. increased its holdings in Contineum Therapeutics by 2.7% in the 4th quarter. RA Capital Management L.P. now owns 2,179,711 shares of the company’s stock worth $24,914,000 after acquiring an additional 57,711 shares in the last quarter. Franklin Resources Inc. increased its holdings in Contineum Therapeutics by 13.5% in the 4th quarter. Franklin Resources Inc. now owns 1,879,367 shares of the company’s stock worth $21,481,000 after acquiring an additional 223,819 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in Contineum Therapeutics by 93.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,842,800 shares of the company’s stock worth $21,063,000 after acquiring an additional 891,480 shares in the last quarter.

About Contineum Therapeutics

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.