Contineum Therapeutics (NASDAQ:CTNM) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Contineum Therapeutics (NASDAQ:CTNM) from a hold rating to a sell rating in a research note released on Saturday.

CTNM has been the topic of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada increased their price objective on 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 raised their target price on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Contineum Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $20.25.

Contineum Therapeutics Trading Down 7.3%

Shares of CTNM opened at $14.19 on Friday. Contineum Therapeutics has a twelve month low of $7.20 and a twelve month high of $16.91. The stock’s 50 day moving average is $14.07 and its two-hundred day moving average is $13.86. The firm has a market capitalization of $533.83 million, a PE ratio of -8.20 and a beta of 0.74.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.05. On average, sell-side analysts predict that Contineum Therapeutics will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new position in Contineum Therapeutics in the 4th quarter valued at approximately $43,000. Strs Ohio purchased a new stake in Contineum Therapeutics during the first quarter worth $27,000. Royal Bank of Canada boosted its position in Contineum Therapeutics by 73.5% during the first quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after purchasing an additional 2,454 shares in the last quarter. Bank of America Corp DE grew its holdings in Contineum Therapeutics by 500.0% in the third quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock valued at $85,000 after purchasing an additional 6,030 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Contineum Therapeutics in the second quarter valued at $43,000.

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.