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

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

Other research analysts have also issued reports about the stock. Leerink Partners started coverage on shares of Contineum Therapeutics in a research note on Thursday, November 13th. They set an “outperform” rating and a $22.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. Leerink Partnrs upgraded Contineum Therapeutics to a “strong-buy” rating in a research report on Thursday, September 25th. Royal Bank Of Canada lowered their target price on Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Finally, Robert W. Baird cut their target price on Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Contineum Therapeutics Price Performance

Shares of NASDAQ CTNM opened at $9.31 on Friday. Contineum Therapeutics has a 1-year low of $3.35 and a 1-year high of $13.57. The business’s fifty day moving average price is $11.24 and its two-hundred day moving average price is $9.59. The firm has a market capitalization of $271.67 million, a PE ratio of -4.14 and a beta of 1.21.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.13. Equities research analysts expect that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Several large investors have recently made changes to their positions in CTNM. Franklin Resources Inc. boosted its holdings 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 buying an additional 122,644 shares in the last quarter. Monaco Asset Management SAM acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at $298,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at $140,000. RBF Capital LLC bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth $159,000. Finally, RA Capital Management L.P. acquired a new position in shares of Contineum Therapeutics in the 3rd quarter worth $24,934,000.

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.