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

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

Several other research firms have also recently issued reports on CTNM. Morgan Stanley reiterated an “equal weight” rating and set a $14.00 target price (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th. Robert W. Baird upped their price target on Contineum Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank Of Canada dropped their price target on Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, January 21st. Finally, Leerink Partners started coverage on shares of Contineum Therapeutics in a research report on Thursday, November 13th. They set an “outperform” rating and a $22.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.20.

Contineum Therapeutics Stock Performance

Shares of CTNM stock opened at $13.88 on Friday. Contineum Therapeutics has a 52-week low of $3.35 and a 52-week high of $16.33. The firm has a market capitalization of $405.02 million, a PE ratio of -6.37 and a beta of 1.06. The stock has a fifty day simple moving average of $13.36 and a two-hundred day simple moving average of $12.07.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.01. On average, sell-side analysts forecast that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in Contineum Therapeutics during the 4th quarter valued at approximately $43,000. Strs Ohio bought a new stake in Contineum Therapeutics in the 1st quarter worth approximately $27,000. Bank of America Corp DE raised its holdings in shares of Contineum Therapeutics by 500.0% during the 3rd quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock worth $85,000 after acquiring an additional 6,030 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Contineum Therapeutics during the 2nd quarter worth approximately $43,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Contineum Therapeutics during the 4th quarter valued at approximately $130,000.

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.