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

Contineum Therapeutics, Inc. (NASDAQ:CTNM) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,050,000 shares, a decline of 6.3% from the October 31st total of 1,120,000 shares. Approximately 7.5% of the company’s shares are short sold. Based on an average daily trading volume, of 79,200 shares, the short-interest ratio is currently 13.3 days.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Venture Management LLC acquired a new position in shares of Contineum Therapeutics in the second quarter worth about $16,169,000. Johnson & Johnson bought a new stake in shares of Contineum Therapeutics in the second quarter worth $34,853,000. Perceptive Advisors LLC acquired a new stake in Contineum Therapeutics in the second quarter valued at $27,589,000. Squarepoint Ops LLC bought a new position in Contineum Therapeutics during the 2nd quarter valued at $2,642,000. Finally, Rhumbline Advisers acquired a new position in Contineum Therapeutics during the 2nd quarter worth $118,000.

Contineum Therapeutics Trading Down 5.4 %

CTNM stock traded down $0.81 during midday trading on Tuesday, reaching $14.33. 46,343 shares of the company’s stock traded hands, compared to its average volume of 78,440. Contineum Therapeutics has a fifty-two week low of $12.33 and a fifty-two week high of $22.00. The business has a 50-day moving average price of $16.68 and a two-hundred day moving average price of $17.84.

Contineum Therapeutics (NASDAQ:CTNM) last announced 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. On average, analysts anticipate that Contineum Therapeutics will post -2.01 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CTNM. Royal Bank of Canada reduced their price target on Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird began coverage on shares of Contineum Therapeutics in a report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Baird R W upgraded shares of Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $29.25.

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).