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

Contineum Therapeutics (NASDAQ:CTNM) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other analysts also recently commented on CTNM. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Finally, Morgan Stanley boosted 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Contineum Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $20.25.

Contineum Therapeutics Price Performance

NASDAQ CTNM opened at $14.19 on Friday. Contineum Therapeutics has a 1 year low of $7.20 and a 1 year high of $16.91. The company has a market capitalization of $533.83 million, a PE ratio of -8.20 and a beta of 0.74. The company has a fifty day moving average of $14.07 and a 200 day moving average of $13.87.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 683 Capital Management LLC purchased a new stake in shares of Contineum Therapeutics during the 4th quarter worth about $1,045,000. UBS Group AG grew its position in shares of Contineum Therapeutics by 191.1% during the 4th quarter. UBS Group AG now owns 199,389 shares of the company’s stock valued at $2,279,000 after acquiring an additional 130,885 shares during the period. Baker BROS. Advisors LP increased its stake in shares of Contineum Therapeutics by 1,729.3% in the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock valued at $16,240,000 after purchasing an additional 1,343,168 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Contineum Therapeutics by 11.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock valued at $35,594,000 after purchasing an additional 285,857 shares in the last quarter. Finally, Monashee Investment Management LLC acquired a new position in Contineum Therapeutics in the 4th quarter worth about $1,571,000.

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.