Contineum Therapeutics, Inc. (NASDAQ:CTNM) Sees Significant Decline in Short Interest

Contineum Therapeutics, Inc. (NASDAQ:CTNMGet Free Report) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 983,600 shares, a drop of 5.4% from the November 30th total of 1,040,000 shares. Based on an average daily volume of 99,500 shares, the short-interest ratio is currently 9.9 days. Approximately 7.0% of the company’s shares are short sold.

Contineum Therapeutics Price Performance

CTNM opened at $14.65 on Thursday. The business has a fifty day moving average price of $15.42 and a 200 day moving average price of $17.57. Contineum Therapeutics has a 12 month low of $12.33 and a 12 month high of $22.00.

Contineum Therapeutics (NASDAQ:CTNMGet Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.01. Research analysts anticipate that Contineum Therapeutics will post -2.01 EPS for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

Several institutional investors have recently modified their holdings of the company. Sandia Investment Management LP purchased a new stake in Contineum Therapeutics during the second quarter worth approximately $88,000. Rhumbline Advisers acquired a new stake in Contineum Therapeutics during the second quarter worth approximately $118,000. BNP Paribas Financial Markets lifted its position in shares of Contineum Therapeutics by 1,248.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock worth $129,000 after buying an additional 6,243 shares during the last quarter. Barclays PLC lifted its position in shares of Contineum Therapeutics by 248.6% during the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock worth $158,000 after buying an additional 5,925 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Contineum Therapeutics in the 2nd quarter valued at $356,000.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada decreased their price target on Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Baird R W upgraded Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird began coverage on shares of Contineum Therapeutics in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $29.25.

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Contineum Therapeutics Company Profile

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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).

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