Contineum Therapeutics (NASDAQ:CTNM) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Contineum Therapeutics (NASDAQ:CTNM) from a sell rating to a hold rating in a report issued on Sunday.

Other research analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Royal Bank Of Canada upped their target price on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Morgan Stanley raised their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.25.

Contineum Therapeutics Stock Performance

Shares of CTNM opened at $17.19 on Friday. The stock’s 50-day simple moving average is $14.48 and its 200 day simple moving average is $13.92. Contineum Therapeutics has a 52-week low of $8.60 and a 52-week high of $17.35. The stock has a market capitalization of $646.69 million, a price-to-earnings ratio of -9.94 and a beta of 0.74.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in shares of Contineum Therapeutics in the 1st quarter worth about $27,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Contineum Therapeutics during the 4th quarter valued at about $43,000. Qube Research & Technologies Ltd purchased a new position in shares of Contineum Therapeutics during the 2nd quarter valued at about $43,000. Marex Group plc purchased a new position in shares of Contineum Therapeutics during the 2nd quarter valued at about $45,000. Finally, Royal Bank of Canada lifted its holdings in shares of Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after acquiring an additional 2,454 shares during the last quarter.

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.