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

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) was the target of a significant decline in short interest during the month of 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 volume of 99,500 shares, the days-to-cover ratio is presently 9.9 days. Approximately 7.0% of the company's stock are short sold.

Institutional Investors Weigh In On Contineum Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Contineum Therapeutics by 130.9% during the third quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company's stock valued at $27,706,000 after acquiring an additional 820,542 shares in the last quarter. Barclays PLC grew 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 purchasing an additional 5,925 shares in the last quarter. State Street Corp increased its holdings in shares of Contineum Therapeutics by 23.7% in the third quarter. State Street Corp now owns 113,566 shares of the company's stock worth $2,174,000 after purchasing an additional 21,760 shares during the period. BNP Paribas Financial Markets raised its position 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 worth $129,000 after buying an additional 6,243 shares in the last quarter. Finally, FMR LLC boosted its stake in Contineum Therapeutics by 115.4% during the third quarter. FMR LLC now owns 696,927 shares of the company's stock valued at $13,339,000 after buying an additional 373,327 shares during the period.

Wall Street Analyst Weigh In

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

Contineum Therapeutics Stock Performance

Shares of CTNM stock traded up $0.18 during trading on Wednesday, reaching $14.65. 111,179 shares of the company's stock traded hands, compared to its average volume of 84,546. The firm's 50-day moving average is $15.42 and its 200 day moving average is $17.57. Contineum Therapeutics has a 1 year low of $12.33 and a 1 year high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.01. On average, sell-side analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current year.

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).