Contineum Therapeutics (NASDAQ:CTNM) Hits New 12-Month High – Here’s What Happened

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $16.91 and last traded at $16.91, with a volume of 80193 shares traded. The stock had previously closed at $16.02.

Analyst Upgrades and Downgrades

Several analysts recently commented on CTNM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Royal Bank Of Canada raised their price objective on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Morgan Stanley increased 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 report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Contineum Therapeutics has an average rating of “Hold” and an average price target of $20.25.

Contineum Therapeutics Trading Up 7.3%

The firm has a market capitalization of $646.69 million, a price-to-earnings ratio of -9.94 and a beta of 0.74. The company has a fifty day moving average price of $14.48 and a two-hundred day moving average price of $13.92.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, equities research analysts expect that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current year.

Institutional Trading of Contineum Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CTNM. Seven Fleet Capital Management LP raised its holdings in shares of Contineum Therapeutics by 123.8% during the 2nd quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company’s stock worth $992,000 after acquiring an additional 33,487 shares during the period. Wellington Management Group LLP grew its holdings in shares of Contineum Therapeutics by 171.2% in the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock valued at $2,472,000 after purchasing an additional 95,188 shares during the period. Bank of America Corp DE grew its holdings in shares of Contineum Therapeutics by 411.9% in the first quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock valued at $620,000 after purchasing an additional 38,180 shares during the period. Janus Henderson Group PLC increased its position 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 purchasing an additional 285,857 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Contineum Therapeutics by 73.5% during the first quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after purchasing an additional 2,454 shares during the last quarter.

Contineum Therapeutics Company Profile

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.