Contineum Therapeutics, Inc. (NASDAQ:CTNM) Short Interest Down 5.4% in December

Contineum Therapeutics, Inc. (NASDAQ:CTNM) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 983,600 shares, a decline of 5.4% from the November 30th total of 1,040,000 shares. Based on an average daily trading volume, of 99,500 shares, the short-interest ratio is currently 9.9 days. Currently, 7.0% of the shares of the company are short sold.

Contineum Therapeutics Stock Up 1.2 %

Shares of CTNM opened at $14.65 on Thursday. Contineum Therapeutics has a 52-week low of $12.33 and a 52-week high of $22.00. The firm’s fifty day moving average is $15.42 and its two-hundred day moving average is $17.57.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.01. As a group, analysts forecast that Contineum Therapeutics will post -2.01 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird initiated coverage on Contineum Therapeutics in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 target price on the stock. Royal Bank of Canada lowered their price target on Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Baird R W upgraded Contineum Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Contineum Therapeutics has a consensus rating of “Buy” and a consensus target price of $29.25.

Institutional Investors Weigh In On Contineum Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sandia Investment Management LP acquired a new position in Contineum Therapeutics during the second quarter worth $88,000. Barclays PLC boosted its position in shares of Contineum Therapeutics by 248.6% during the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock valued at $158,000 after acquiring an additional 5,925 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of 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. Rhumbline Advisers purchased a new stake in shares of Contineum Therapeutics in the second quarter valued at about $118,000. Finally, Bank of New York Mellon Corp acquired a new stake in Contineum Therapeutics during the second quarter worth about $356,000.

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).