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

Analysts at Jones Trading started coverage on shares of Contineum Therapeutics (NASDAQ:CTNM) in a research report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $23.00 price target on the stock. Jones Trading’s target price would suggest a potential upside of 226.52% from the stock’s previous close.

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

Contineum Therapeutics Stock Performance

Shares of NASDAQ:CTNM traded down $0.52 during midday trading on Thursday, hitting $7.04. The company’s stock had a trading volume of 11,151 shares, compared to its average volume of 84,887. The company has a market cap of $181.58 million and a P/E ratio of -1.44. Contineum Therapeutics has a 12-month low of $5.92 and a 12-month high of $22.00. The business’s 50 day simple moving average is $9.70 and its 200 day simple moving average is $14.17.

Institutional Investors Weigh In On Contineum Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Stempoint Capital LP purchased a new stake in Contineum Therapeutics in the fourth quarter valued at approximately $3,894,000. Red Tree Management LLC purchased a new position in Contineum Therapeutics during the 4th quarter valued at about $9,349,000. Nuveen Asset Management LLC purchased a new position in shares of Contineum Therapeutics in the fourth quarter valued at approximately $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Contineum Therapeutics by 90.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock worth $86,000 after buying an additional 2,783 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Contineum Therapeutics during the 4th quarter worth approximately $1,001,000.

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).