Contineum Therapeutics, Inc. (NASDAQ:CTNM – Get Free Report) reached a new 52-week low on Monday. The company traded as low as $8.43 and last traded at $8.56, with a volume of 8,462,577 shares changing hands. The stock had previously closed at $13.38.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on CTNM shares. JonesTrading reduced their price target on shares of Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Royal Bank Of Canada raised their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Wall Street Zen lowered shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Robert W. Baird cut shares of Contineum Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $14.00 in a research report on Tuesday. Finally, Morgan Stanley decreased their target price on shares of Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.33.
Get Our Latest Stock Report on CTNM
Contineum Therapeutics Stock Down 3.3%
Contineum Therapeutics (NASDAQ:CTNM – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. Equities analysts expect that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current fiscal year.
Institutional Trading of Contineum Therapeutics
Several institutional investors have recently added to or reduced their stakes in CTNM. Royal Bank of Canada raised its position in shares of Contineum Therapeutics by 73.5% during the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after acquiring an additional 2,454 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in Contineum Therapeutics in the first quarter valued at $170,000. Independent Financial Group LLC acquired a new position in Contineum Therapeutics in the 1st quarter valued at about $353,000. Seven Fleet Capital Management LP acquired a new stake in shares of Contineum Therapeutics in the 1st quarter worth $353,000. Finally, Bank of America Corp DE raised its position in Contineum Therapeutics by 411.9% in the first quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock worth $620,000 after acquiring an additional 38,180 shares in the last quarter.
Contineum Therapeutics Company Profile
Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.
Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.
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