Contineum Therapeutics (NASDAQ:CTNM) Trading Down 9.1% – Time to Sell?

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s stock price was down 9.1% during trading on Friday . The stock traded as low as $14.75 and last traded at $14.3120. Approximately 68,888 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 288,523 shares. The stock had previously closed at $15.75.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTNM. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Finally, Morgan Stanley raised their target price on 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 research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

Contineum Therapeutics Stock Performance

The stock has a market cap of $541.37 million, a price-to-earnings ratio of -7.40 and a beta of 0.70. The company’s 50 day simple moving average is $13.61 and its 200 day simple moving average is $13.61.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.06. Sell-side analysts predict that Contineum Therapeutics, Inc. will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Several large investors have recently made changes to their positions in the business. 683 Capital Management LLC bought a new stake in Contineum Therapeutics during the fourth quarter worth approximately $1,045,000. UBS Group AG raised its position in shares of Contineum Therapeutics by 191.1% during the fourth quarter. UBS Group AG now owns 199,389 shares of the company’s stock worth $2,279,000 after purchasing an additional 130,885 shares during the period. Baker BROS. Advisors LP lifted its holdings in shares of Contineum Therapeutics by 1,729.3% during the fourth 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 during the last quarter. Monashee Investment Management LLC purchased a new stake in shares of Contineum Therapeutics during the fourth quarter valued at $1,571,000. Finally, Commodore Capital LP purchased a new stake in shares of Contineum Therapeutics during the fourth quarter valued at $9,331,000.

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.