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

by · The Cerbat Gem

Contineum Therapeutics, Inc. (NASDAQ:CTNM – Get Free Report) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 1,605,258 shares, a drop of 48.2% from the April 15th total of 3,098,809 shares. Based on an average daily trading volume, of 239,404 shares, the days-to-cover ratio is currently 6.7 days. Currently, 4.8% of the shares of the stock are short sold.

Institutional Trading of Contineum Therapeutics

Institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in Contineum Therapeutics in the first quarter worth $27,000. China Universal Asset Management Co. Ltd. bought a new stake in Contineum Therapeutics in the fourth quarter worth $43,000. Qube Research & Technologies Ltd bought a new stake in Contineum Therapeutics in the second quarter worth $43,000. Marex Group plc bought a new stake in Contineum Therapeutics in the second quarter worth $45,000. Finally, Bridgeway Capital Management LLC bought a new stake in Contineum Therapeutics in the second quarter worth $76,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTNM shares. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley increased their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th. Finally, Robert W. Baird increased their target price on Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Contineum Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Get Our Latest Research Report on CTNM

Contineum Therapeutics Price Performance

Shares of NASDAQ CTNM traded down $0.49 during midday trading on Friday, reaching $13.72. 181,201 shares of the stock traded hands, compared to its average volume of 209,139. The stock has a market capitalization of $512.94 million, a PE ratio of -7.04 and a beta of 0.89. Contineum Therapeutics has a one year low of $3.35 and a one year high of $16.33. The company’s 50 day moving average is $13.27 and its 200 day moving average is $12.70.

Contineum Therapeutics (NASDAQ:CTNM – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.16. As a group, equities analysts forecast that Contineum Therapeutics will post -1.79 EPS for the current year.

Contineum Therapeutics Company Profile

(Get Free Report)

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.

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