Contineum Therapeutics (NASDAQ:CTNM) Stock Rating Lowered by Wall Street Zen

Contineum Therapeutics (NASDAQ:CTNM) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the stock. Leerink Partners initiated coverage on shares of Contineum Therapeutics in a research report on Thursday, November 13th. They issued an “outperform” rating and a $22.00 price objective for the company. Robert W. Baird cut their price target on Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Royal Bank Of Canada reduced their price target on Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Leerink Partnrs upgraded Contineum Therapeutics to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Morgan Stanley increased their target price on Contineum Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Contineum Therapeutics Trading Down 11.0%

Shares of CTNM stock opened at $11.63 on Friday. Contineum Therapeutics has a twelve month low of $3.35 and a twelve month high of $15.25. The stock has a market cap of $339.36 million, a P/E ratio of -5.17 and a beta of 1.25. The stock has a 50 day moving average of $11.31 and a 200 day moving average of $8.57.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.13. On average, research analysts predict that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Contineum Therapeutics by 7.8% during the second quarter. Franklin Resources Inc. now owns 1,698,825 shares of the company’s stock worth $6,744,000 after acquiring an additional 122,644 shares during the last quarter. ADAR1 Capital Management LLC lifted its stake in Contineum Therapeutics by 105.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock worth $1,178,000 after purchasing an additional 86,531 shares in the last quarter. Monaco Asset Management SAM purchased a new position in Contineum Therapeutics in the 2nd quarter worth approximately $298,000. Nuveen LLC purchased a new stake in shares of Contineum Therapeutics in the first quarter valued at approximately $93,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Contineum Therapeutics in the second quarter valued at approximately $140,000.

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).