Contineum Therapeutics (NASDAQ:CTNM) Sees Large Volume Increase – Here’s What Happened

Contineum Therapeutics, Inc. (NASDAQ:CTNM) saw an uptick in trading volume on Monday . 1,508,580 shares were traded during trading, an increase of 394% from the previous session’s volume of 305,110 shares.The stock last traded at $14.9450 and had previously closed at $14.19.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Wall Street Zen lowered Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley boosted their price target 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. Finally, Royal Bank Of Canada increased their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.25.

Contineum Therapeutics Trading Up 2.9%

The company has a market cap of $549.25 million, a P/E ratio of -8.44 and a beta of 0.74. The company’s 50-day moving average price is $14.07 and its two-hundred day moving average price is $13.87.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. As a group, analysts anticipate that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

Institutional investors have recently made changes to their positions in the company. Seven Fleet Capital Management LP acquired a new stake in shares of Contineum Therapeutics during the 1st quarter valued at approximately $353,000. Bank of America Corp DE boosted its holdings in Contineum Therapeutics by 411.9% in the first quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock worth $620,000 after purchasing an additional 38,180 shares during the period. Janus Henderson Group PLC increased its stake in Contineum Therapeutics by 11.7% during the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock valued at $35,594,000 after purchasing an additional 285,857 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of 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 during the period. Finally, Eversept Partners LP raised its holdings in shares of Contineum Therapeutics by 6.5% during the first 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.

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.