Contineum Therapeutics (NASDAQ:CTNM) Sees Large Volume Increase

Contineum Therapeutics, Inc. (NASDAQ:CTNM) shares saw unusually-strong trading volume on Thursday . Approximately 195,405 shares traded hands during trading, an increase of 160% from the previous session’s volume of 75,016 shares.The stock last traded at $19.80 and had previously closed at $18.49.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lifted their price objective on shares of Contineum Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th.

Contineum Therapeutics Trading Up 8.6 %

The stock has a fifty day simple moving average of $19.00.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.02). As a group, equities analysts expect that Contineum Therapeutics, Inc. will post -2.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sandia Investment Management LP bought a new position in shares of Contineum Therapeutics during the 2nd quarter worth about $88,000. Rhumbline Advisers bought a new position in shares of Contineum Therapeutics during the 2nd quarter worth about $118,000. Bank of New York Mellon Corp bought a new position in shares of Contineum Therapeutics during the 2nd quarter worth about $356,000. Driehaus Capital Management LLC acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at about $1,174,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at about $2,642,000.

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).