Morgan Stanley Cuts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $20.00

by · The Cerbat Gem

Contineum Therapeutics (NASDAQ:CTNM – Free Report) had its target price reduced by Morgan Stanley from $25.00 to $20.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Jones Trading initiated coverage on shares of Contineum Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $23.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, May 15th. Finally, Robert W. Baird reduced their price objective on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $22.50.

Get Our Latest Research Report on Contineum Therapeutics

Contineum Therapeutics Price Performance

NASDAQ:CTNM opened at $3.86 on Monday. The firm has a 50-day moving average of $5.11 and a 200-day moving average of $9.71. The company has a market cap of $99.87 million and a PE ratio of -1.96. Contineum Therapeutics has a one year low of $3.43 and a one year high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM – Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, equities research analysts expect that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTNM. Legal & General Group Plc boosted its stake in Contineum Therapeutics by 74.0% in the fourth quarter. Legal & General Group Plc now owns 3,631 shares of the company’s stock valued at $53,000 after acquiring an additional 1,544 shares during the last quarter. Corebridge Financial Inc. boosted its stake in Contineum Therapeutics by 73.1% in the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock valued at $76,000 after acquiring an additional 2,202 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Contineum Therapeutics by 90.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock valued at $86,000 after acquiring an additional 2,783 shares during the last quarter. Nuveen LLC purchased a new position in Contineum Therapeutics in the first quarter valued at about $93,000. Finally, MetLife Investment Management LLC purchased a new position in Contineum Therapeutics in the fourth quarter valued at about $103,000.

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).

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