Contineum Therapeutics (NASDAQ:CTNM) Releases Earnings Results, Beats Estimates By $0.06 EPS

Contineum Therapeutics (NASDAQ:CTNM) issued its quarterly earnings results on Thursday. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.06, FiscalAI reports.

Contineum Therapeutics Stock Performance

Shares of NASDAQ:CTNM traded up $1.37 during midday trading on Thursday, reaching $15.75. 337,660 shares of the company’s stock were exchanged, compared to its average volume of 290,381. The company’s 50 day simple moving average is $13.61 and its two-hundred day simple moving average is $13.61. Contineum Therapeutics has a 12 month low of $5.07 and a 12 month high of $16.91. The firm has a market capitalization of $588.83 million, a PE ratio of -8.08 and a beta of 0.70.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Ikarian Capital LLC bought a new stake in shares of Contineum Therapeutics in the 4th quarter worth about $3,233,000. Sphera Funds Management LTD. bought a new position in shares of Contineum Therapeutics in the fourth quarter valued at approximately $1,983,000. Suvretta Capital Management LLC raised its stake in shares of 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 last quarter. Quadrature Capital Ltd acquired a new position in shares of Contineum Therapeutics in the 4th quarter worth approximately $267,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Contineum Therapeutics in the 4th quarter worth approximately $172,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTNM shares. Morgan Stanley upped their target price on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.00.

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.