Contineum Therapeutics (NASDAQ:CTNM – Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.06, FiscalAI reports.
Contineum Therapeutics Trading Up 9.5%
CTNM stock traded up $1.37 during midday trading on Thursday, reaching $15.75. The company had a trading volume of 337,660 shares, compared to its average volume of 290,381. Contineum Therapeutics has a 1 year low of $5.07 and a 1 year high of $16.91. The company has a 50 day moving average of $13.61 and a two-hundred day moving average of $13.61. The company has a market capitalization of $588.83 million, a P/E ratio of -8.08 and a beta of 0.70.
Wall Street Analyst Weigh In
Several research firms recently weighed in on CTNM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Morgan Stanley boosted their target price on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. Finally, Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Contineum Therapeutics presently has a consensus rating of “Hold” and an average target price of $20.00.
Institutional Investors Weigh In On Contineum Therapeutics
Large investors have recently made changes to their positions in the company. Strs Ohio bought a new position in Contineum Therapeutics during the first quarter valued at approximately $27,000. Bank of America Corp DE raised its holdings in Contineum Therapeutics by 500.0% in the 3rd quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock worth $85,000 after acquiring an additional 6,030 shares during the period. Qube Research & Technologies Ltd acquired a new position in Contineum Therapeutics during the 2nd quarter worth $43,000. Price T Rowe Associates Inc. MD bought a new stake in Contineum Therapeutics during the fourth quarter valued at about $130,000. Finally, Marex Group plc bought a new stake in Contineum Therapeutics during the second quarter valued at about $45,000.
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.
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