Contineum Therapeutics, Inc. (NASDAQ:CTNM) Short Interest Update

Contineum Therapeutics, Inc. (NASDAQ:CTNM) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 869,400 shares, a decrease of 7.0% from the January 15th total of 934,400 shares. Currently, 6.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 92,900 shares, the days-to-cover ratio is currently 9.4 days.

Contineum Therapeutics Trading Up 0.5 %

Shares of Contineum Therapeutics stock traded up $0.04 during mid-day trading on Monday, reaching $7.73. 48,799 shares of the stock were exchanged, compared to its average volume of 71,285. The firm has a 50-day simple moving average of $12.21 and a 200 day simple moving average of $15.49. Contineum Therapeutics has a fifty-two week low of $7.53 and a fifty-two week high of $22.00.

Institutional Investors Weigh In On Contineum Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTNM. Franklin Resources Inc. increased its position in Contineum Therapeutics by 130.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company’s stock valued at $27,706,000 after acquiring an additional 820,542 shares in the last quarter. Red Tree Management LLC acquired a new stake in Contineum Therapeutics in the 4th quarter valued at about $9,349,000. FMR LLC increased its position in Contineum Therapeutics by 115.4% in the 3rd quarter. FMR LLC now owns 696,927 shares of the company’s stock valued at $13,339,000 after acquiring an additional 373,327 shares in the last quarter. Stempoint Capital LP acquired a new stake in Contineum Therapeutics in the 4th quarter valued at about $3,894,000. Finally, Norges Bank acquired a new stake in Contineum Therapeutics in the 4th quarter valued at about $2,487,000.

Analyst Upgrades and Downgrades

CTNM has been the subject of a number of recent analyst reports. Baird R W upgraded shares of Contineum Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird initiated coverage on shares of Contineum Therapeutics in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Contineum Therapeutics in a research report on Thursday, January 9th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $29.25.

Contineum Therapeutics Company Profile

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).