Contineum Therapeutics (NASDAQ:CTNM) Posts Earnings Results, Beats Estimates By $0.05 EPS

by · The Cerbat Gem

Contineum Therapeutics (NASDAQ:CTNM – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05, FiscalAI reports.

Contineum Therapeutics Stock Performance

CTNM opened at $15.49 on Friday. The firm’s fifty day moving average is $13.64 and its two-hundred day moving average is $13.62. The firm has a market cap of $579.17 million, a PE ratio of -8.95 and a beta of 0.70. Contineum Therapeutics has a twelve month low of $5.07 and a twelve month high of $16.91.

Institutional Trading of Contineum Therapeutics

A number of large investors have recently made changes to their positions in CTNM. Janus Henderson Group PLC acquired a new stake in Contineum Therapeutics during the 4th quarter worth $27,906,000. RA Capital Management L.P. bought a new position in Contineum Therapeutics during the third quarter worth about $24,934,000. Suvretta Capital Management LLC grew its stake in Contineum Therapeutics by 65.2% in the fourth 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. Balyasny Asset Management L.P. acquired a new position in Contineum Therapeutics in the third quarter valued at about $11,178,000. Finally, Perceptive Advisors LLC increased its holdings in shares of Contineum Therapeutics by 105.0% in the fourth quarter. Perceptive Advisors LLC now owns 1,464,592 shares of the company’s stock worth $16,740,000 after acquiring an additional 750,000 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently commented on CTNM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Morgan Stanley raised their target price on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada boosted their target price on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.25.

View Our Latest Stock Analysis on Contineum Therapeutics

About Contineum Therapeutics

(Get Free Report)

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.

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