Robert W. Baird Cuts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $16.00

Contineum Therapeutics (NASDAQ:CTNM) had its target price cut by analysts at Robert W. Baird from $32.00 to $16.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 148.45% from the stock’s current price.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research note on Thursday, January 9th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $25.25.

Contineum Therapeutics Stock Performance

NASDAQ CTNM opened at $6.44 on Friday. The company has a 50-day simple moving average of $10.27 and a two-hundred day simple moving average of $14.51. Contineum Therapeutics has a 12-month low of $5.92 and a 12-month high of $22.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CTNM. FMR LLC increased its position in Contineum Therapeutics by 115.4% during the 3rd quarter. FMR LLC now owns 696,927 shares of the company’s stock valued at $13,339,000 after buying an additional 373,327 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Contineum Therapeutics by 1,248.6% during the third quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock valued at $129,000 after purchasing an additional 6,243 shares during the period. State Street Corp lifted its holdings in Contineum Therapeutics by 23.7% in the third quarter. State Street Corp now owns 113,566 shares of the company’s stock valued at $2,174,000 after acquiring an additional 21,760 shares during the period. Barclays PLC boosted its position in Contineum Therapeutics by 248.6% in the third quarter. Barclays PLC now owns 8,308 shares of the company’s stock worth $158,000 after purchasing an additional 5,925 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Contineum Therapeutics by 130.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company’s stock valued at $27,706,000 after purchasing an additional 820,542 shares during the period.

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).