Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives $24.80 Consensus PT from Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned an average rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $24.80.

Several research firms have recently commented on CTNM. Morgan Stanley restated an “overweight” rating and issued a $25.00 price objective on shares of Contineum Therapeutics in a research note on Friday, March 7th. Robert W. Baird reduced their price target on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Jones Trading assumed coverage on Contineum Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Contineum Therapeutics in a report on Thursday, January 9th.

Contineum Therapeutics Trading Down 3.5 %

Shares of CTNM stock opened at $4.62 on Monday. Contineum Therapeutics has a 12 month low of $4.15 and a 12 month high of $22.00. The stock has a market cap of $119.53 million and a P/E ratio of -0.94. The company has a 50 day simple moving average of $7.18 and a two-hundred day simple moving average of $12.36.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds have recently made changes to their positions in CTNM. Legal & General Group Plc lifted its holdings in Contineum Therapeutics by 74.0% in the 4th quarter. Legal & General Group Plc now owns 3,631 shares of the company’s stock worth $53,000 after purchasing an additional 1,544 shares in the last quarter. Rhumbline Advisers raised its position in shares of Contineum Therapeutics by 36.3% during the fourth quarter. Rhumbline Advisers now owns 8,233 shares of the company’s stock valued at $121,000 after buying an additional 2,191 shares during the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Contineum Therapeutics by 73.1% in the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock worth $76,000 after buying an additional 2,202 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Contineum Therapeutics by 90.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock worth $86,000 after acquiring an additional 2,783 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Contineum Therapeutics by 63.4% during the fourth quarter. Bank of America Corp DE now owns 9,132 shares of the company’s stock valued at $134,000 after acquiring an additional 3,542 shares in 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).