Contineum Therapeutics (NASDAQ:CTNM) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Contineum Therapeutics (NASDAQ:CTNM – Free Report) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on CTNM. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Robert W. Baird reduced their price objective on shares of Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 15th. Royal Bank Of Canada lifted their target price on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, JonesTrading dropped their target price on shares of Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, September 15th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Get Our Latest Stock Report on Contineum Therapeutics

Contineum Therapeutics Trading Up 0.1%

Shares of CTNM stock opened at $13.55 on Friday. Contineum Therapeutics has a 1 year low of $8.60 and a 1 year high of $17.78. The firm’s 50 day moving average is $15.21 and its 200-day moving average is $13.99. The firm has a market capitalization of $509.75 million, a price-to-earnings ratio of -7.83 and a beta of 0.75.

Contineum Therapeutics (NASDAQ:CTNM – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, equities research analysts forecast that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

Several hedge funds have recently bought and sold shares of CTNM. Janus Henderson Group PLC lifted its holdings in Contineum Therapeutics by 11.7% during the first 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. Baker BROS. Advisors LP increased its holdings in shares of Contineum Therapeutics by 1,729.3% in the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after acquiring an additional 1,343,168 shares in the last quarter. Commodore Capital LP bought a new stake in shares of Contineum Therapeutics in the fourth quarter worth about $9,331,000. Wellington Management Group LLP raised its position in shares of Contineum Therapeutics by 171.2% during the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after purchasing an additional 95,188 shares during the period. Finally, UBS Group AG raised its position in shares of Contineum Therapeutics by 191.1% during the fourth quarter. UBS Group AG now owns 199,389 shares of the company’s stock worth $2,279,000 after purchasing an additional 130,885 shares during the period.

About Contineum Therapeutics

(Get Free Report)

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company’s research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum’s lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.

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