Contineum Therapeutics (NASDAQ:CTNM) Trading Down 9.1% – Should You Sell?

Contineum Therapeutics, Inc. (NASDAQ:CTNM)’s stock price traded down 9.1% during trading on Friday . The company traded as low as $14.75 and last traded at $14.3120. Approximately 68,888 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 288,523 shares. The stock had previously closed at $15.75.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CTNM shares. Morgan Stanley upped their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated 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 report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Contineum Therapeutics currently has an average rating of “Hold” and a consensus target price of $20.00.

Contineum Therapeutics Stock Performance

The company’s fifty day moving average price is $13.61 and its 200 day moving average price is $13.61. The firm has a market capitalization of $541.37 million, a price-to-earnings ratio of -7.40 and a beta of 0.70.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.06. As a group, sell-side analysts expect that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current year.

Institutional Trading of Contineum Therapeutics

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new stake in Contineum Therapeutics in the fourth quarter valued at $27,906,000. RA Capital Management L.P. bought a new position in shares of Contineum Therapeutics during the third quarter worth about $24,934,000. Baker BROS. Advisors LP increased its holdings in shares of Contineum Therapeutics by 1,729.3% in the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after acquiring an additional 1,343,168 shares during the period. Suvretta Capital Management LLC increased its holdings in shares of Contineum Therapeutics by 65.2% in the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after acquiring an additional 1,121,334 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Contineum Therapeutics in the 3rd quarter valued at about $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.