Contineum Therapeutics (NASDAQ:CTNM) Shares Up 6.8% – Should You Buy?

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s share price shot up 6.8% during mid-day trading on Thursday . The stock traded as high as $15.94 and last traded at $16.00. 165,442 shares were traded during trading, a decline of 45% from the average daily volume of 302,464 shares. The stock had previously closed at $14.98.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CTNM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Royal Bank Of Canada boosted their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley raised their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Contineum Therapeutics currently has a consensus rating of “Hold” and an average target price of $20.25.

Contineum Therapeutics Price Performance

The firm has a market cap of $598.16 million, a P/E ratio of -9.20 and a beta of 0.74. The firm’s 50-day moving average price is $13.96 and its 200 day moving average price is $13.85.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.05. Analysts forecast that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Suvretta Capital Management LLC raised its position in shares of Contineum Therapeutics by 65.2% during the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock valued at $32,476,000 after acquiring an additional 1,121,334 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Contineum Therapeutics by 11.7% in 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 period. RA Capital Management L.P. boosted its holdings in Contineum Therapeutics by 2.7% in the fourth quarter. RA Capital Management L.P. now owns 2,179,711 shares of the company’s stock worth $24,914,000 after purchasing an additional 57,711 shares during the period. Franklin Resources Inc. increased its stake in Contineum Therapeutics by 13.5% during the fourth quarter. Franklin Resources Inc. now owns 1,879,367 shares of the company’s stock valued at $21,481,000 after purchasing an additional 223,819 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in Contineum Therapeutics by 93.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,842,800 shares of the company’s stock valued at $21,063,000 after purchasing an additional 891,480 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.