Jones Trading Initiates Coverage on Contineum Therapeutics (NASDAQ:CTNM)

Analysts at Jones Trading assumed coverage on shares of Contineum Therapeutics (NASDAQ:CTNM) in a report released on Thursday,Benzinga reports. The firm set a “buy” rating and a $23.00 price target on the stock. Jones Trading’s price objective suggests a potential upside of 226.52% from the company’s current price.

Several other analysts also recently weighed in on CTNM. Robert W. Baird reduced their target price on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Contineum Therapeutics in a research note on Friday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Contineum Therapeutics in a report on Thursday, January 9th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.80.

Contineum Therapeutics Price Performance

Shares of Contineum Therapeutics stock traded down $0.52 during trading hours on Thursday, hitting $7.04. The company had a trading volume of 11,151 shares, compared to its average volume of 84,887. The company’s 50-day moving average is $9.70 and its two-hundred day moving average is $14.17. Contineum Therapeutics has a twelve month low of $5.92 and a twelve month high of $22.00. The company has a market cap of $181.58 million and a P/E ratio of -1.44.

Institutional Investors Weigh In On Contineum Therapeutics

Large investors have recently modified their holdings of the stock. Legal & General Group Plc increased its stake in Contineum Therapeutics by 74.0% in the 4th quarter. Legal & General Group Plc now owns 3,631 shares of the company’s stock valued at $53,000 after buying an additional 1,544 shares during the period. Corebridge Financial Inc. increased its stake in shares of Contineum Therapeutics by 73.1% during the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock worth $76,000 after acquiring an additional 2,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Contineum Therapeutics by 90.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock worth $86,000 after purchasing an additional 2,783 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Contineum Therapeutics by 1,248.6% in 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. Finally, MetLife Investment Management LLC acquired a new position in Contineum Therapeutics during the 4th quarter worth approximately $103,000.

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).