Contineum Therapeutics (NASDAQ:CTNM) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Contineum Therapeutics (NASDAQ:CTNM) released its earnings results on Thursday. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.06, FiscalAI reports.

Contineum Therapeutics Price Performance

Shares of CTNM stock traded down $0.52 during mid-day trading on Friday, hitting $15.23. The company had a trading volume of 280,352 shares, compared to its average volume of 290,182. Contineum Therapeutics has a 52-week low of $5.07 and a 52-week high of $16.91. The stock’s 50 day moving average price is $13.61 and its 200-day moving average price is $13.61. The company has a market capitalization of $569.45 million, a P/E ratio of -7.81 and a beta of 0.70.

Hedge Funds Weigh In On Contineum Therapeutics

Institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in Contineum Therapeutics in the 1st quarter worth $27,000. Qube Research & Technologies Ltd purchased a new stake in shares of Contineum Therapeutics in the second quarter worth about $43,000. Marex Group plc bought a new position in Contineum Therapeutics during the second quarter valued at approximately $45,000. Bridgeway Capital Management LLC purchased a new position in Contineum Therapeutics during the 2nd quarter valued at approximately $76,000. Finally, Jane Street Group LLC bought a new stake in Contineum Therapeutics in the 2nd quarter worth approximately $81,000.

Analyst Ratings Changes

CTNM has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley upped their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.00.

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.