Contineum Therapeutics (NASDAQ:CTNM) Shares Gap Down – What’s Next?

Contineum Therapeutics, Inc. (NASDAQ:CTNM) gapped down before the market opened on Thursday . The stock had previously closed at $15.94, but opened at $14.97. Contineum Therapeutics shares last traded at $15.0110, with a volume of 18,282 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank Of Canada boosted their target price on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.25.

Contineum Therapeutics Price Performance

The stock has a market cap of $557.53 million, a P/E ratio of -8.57 and a beta of 0.75. The firm’s fifty day moving average price is $15.38 and its two-hundred day moving average price is $14.07.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CTNM. Janus Henderson Group PLC purchased a new position in Contineum Therapeutics in the 4th quarter worth approximately $27,906,000. RA Capital Management L.P. bought a new position in shares of Contineum Therapeutics in the 3rd quarter worth $24,934,000. Baker BROS. Advisors LP raised its position in shares of Contineum Therapeutics by 1,729.3% during the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock valued at $16,240,000 after buying an additional 1,343,168 shares in the last quarter. 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 buying an additional 1,121,334 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Contineum Therapeutics during the 3rd quarter worth $11,178,000.

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.