Contineum Therapeutics (NASDAQ:CTNM) Trading Down 5.1% – Time to Sell?

Contineum Therapeutics, Inc. (NASDAQ:CTNM) shares traded down 5.1% during mid-day trading on Monday . The company traded as low as $15.99 and last traded at $16.1760. 144,073 shares traded hands during trading, a decline of 55% from the average session volume of 323,558 shares. The stock had previously closed at $17.05.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada upped their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Morgan Stanley upped their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the stock 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 given a Sell rating to the company. According to data from MarketBeat, Contineum Therapeutics presently has an average rating of “Hold” and a consensus price target of $20.25.

Contineum Therapeutics Price Performance

The stock has a fifty day moving average of $15.14 and a 200 day moving average of $14.00. The firm has a market capitalization of $622.63 million, a P/E ratio of -9.57 and a beta of 0.74.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data 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. Equities analysts forecast that Contineum Therapeutics, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System bought a new position in shares of Contineum Therapeutics during the 2nd quarter worth $99,000. Seven Fleet Capital Management LP lifted its holdings in Contineum Therapeutics by 123.8% during the second quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company’s stock valued at $992,000 after purchasing an additional 33,487 shares during the last quarter. Wellington Management Group LLP boosted its position in Contineum Therapeutics by 171.2% during the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after purchasing an additional 95,188 shares during the period. Bank of America Corp DE increased its stake 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 worth $620,000 after purchasing an additional 38,180 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Contineum Therapeutics by 11.7% in the first 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 during the period.

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.