Contineum Therapeutics, Inc. (NASDAQ:CTNM) Short Interest Down 48.2% in April

Contineum Therapeutics, Inc. (NASDAQ:CTNM) saw a large decrease in short interest in April. As of April 30th, there was short interest totaling 1,605,258 shares, a decrease of 48.2% from the April 15th total of 3,098,809 shares. Currently, 4.8% of the shares of the company are sold short. Based on an average daily trading volume, of 239,404 shares, the days-to-cover ratio is presently 6.7 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Robert W. Baird upped their price target on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Four investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Investors Weigh In On Contineum Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Eversept Partners LP lifted its position in shares of Contineum Therapeutics by 6.5% in the 1st quarter. Eversept Partners LP now owns 146,411 shares of the company’s stock worth $1,912,000 after purchasing an additional 8,918 shares during the period. Renaissance Technologies LLC lifted its position in Contineum Therapeutics by 21.5% during the 1st quarter. Renaissance Technologies LLC now owns 69,400 shares of the company’s stock valued at $906,000 after acquiring an additional 12,300 shares during the period. Dimensional Fund Advisors LP purchased a new position in Contineum Therapeutics during the 1st quarter valued at about $782,000. Independent Financial Group LLC purchased a new position in Contineum Therapeutics during the 1st quarter valued at about $353,000. Finally, Cannon Global Investment Management LLC purchased a new position in Contineum Therapeutics during the 1st quarter valued at about $170,000.

Contineum Therapeutics Trading Down 4.5%

Shares of NASDAQ:CTNM traded down $0.62 during trading on Monday, reaching $13.10. The company had a trading volume of 48,090 shares, compared to its average volume of 268,217. The company has a fifty day moving average of $13.27 and a two-hundred day moving average of $12.71. The stock has a market capitalization of $489.81 million, a P/E ratio of -6.74 and a beta of 0.89. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Tuesday, May 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.16. As a group, equities research analysts predict that Contineum Therapeutics will post -1.79 earnings per share for the current year.

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.