Contineum Therapeutics (NASDAQ:CTNM) Now Covered by Analysts at Jones Trading

Jones Trading assumed coverage on shares of Contineum Therapeutics (NASDAQ:CTNM) in a research report report published on Thursday morning,Benzinga reports. The firm issued a buy rating and a $23.00 target price on the stock.

Several other equities research analysts have also recently commented on CTNM. Robert W. Baird cut their target price on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Morgan Stanley restated an “overweight” rating and issued a $25.00 target price on shares of Contineum Therapeutics in a research note on Friday, March 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Contineum Therapeutics in a research note on Thursday, January 9th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $24.80.

Contineum Therapeutics Stock Performance

NASDAQ CTNM opened at $6.67 on Thursday. The stock has a market capitalization of $171.94 million and a price-to-earnings ratio of -1.36. The stock’s 50 day moving average price is $9.39 and its two-hundred day moving average price is $13.99. Contineum Therapeutics has a 52 week low of $5.92 and a 52 week high of $22.00.

Institutional Investors Weigh In On Contineum Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CTNM. Franklin Resources Inc. raised its stake in shares of Contineum Therapeutics by 130.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company’s stock worth $27,706,000 after purchasing an additional 820,542 shares in the last quarter. Red Tree Management LLC acquired a new position in shares of Contineum Therapeutics during the 4th quarter worth approximately $9,349,000. FMR LLC increased its holdings in shares of Contineum Therapeutics by 115.4% during the 3rd quarter. FMR LLC now owns 696,927 shares of the company’s stock worth $13,339,000 after acquiring an additional 373,327 shares during the last quarter. Stempoint Capital LP acquired a new position in shares of Contineum Therapeutics during the 4th quarter worth approximately $3,894,000. Finally, Norges Bank acquired a new position in shares of Contineum Therapeutics during the 4th quarter worth approximately $2,487,000.

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).