Contineum Therapeutics (NASDAQ:CTNM) Research Coverage Started at William Blair

William Blair assumed coverage on shares of Contineum Therapeutics (NASDAQ:CTNM) in a report issued on Friday, Marketbeat Ratings reports. The brokerage issued an outperform rating on the stock.

CTNM has been the topic of several other research reports. Jones Trading assumed coverage on Contineum Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $23.00 price objective on the stock. Morgan Stanley cut their price objective on Contineum Therapeutics from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Robert W. Baird cut their price objective on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research note on Thursday, May 15th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $22.50.

Contineum Therapeutics Stock Performance

Shares of CTNM opened at $4.76 on Friday. The company has a market capitalization of $123.14 million, a P/E ratio of -2.42 and a beta of 0.52. Contineum Therapeutics has a one year low of $3.35 and a one year high of $22.00. The stock has a 50-day moving average price of $4.16 and a 200 day moving average price of $7.79.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, equities research analysts forecast that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Institutional Trading of Contineum Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Red Tree Management LLC acquired a new stake in Contineum Therapeutics in the 4th quarter valued at approximately $9,349,000. Stempoint Capital LP acquired a new stake in Contineum Therapeutics in the 4th quarter valued at approximately $3,894,000. Geode Capital Management LLC increased its position in Contineum Therapeutics by 46.4% in the 4th quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $2,761,000 after acquiring an additional 59,732 shares during the period. Norges Bank acquired a new stake in Contineum Therapeutics in the 4th quarter valued at approximately $2,487,000. Finally, ADAR1 Capital Management LLC increased its position in Contineum Therapeutics by 105.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock valued at $1,178,000 after acquiring an additional 86,531 shares during the period.

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).