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

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 869,400 shares, a decline of 7.0% from the January 15th total of 934,400 shares. Currently, 6.2% of the shares of the company are sold short. Based on an average daily volume of 92,900 shares, the days-to-cover ratio is presently 9.4 days.

Contineum Therapeutics Price Performance

NASDAQ:CTNM traded down $0.31 during trading hours on Friday, hitting $7.59. 65,650 shares of the company's stock traded hands, compared to its average volume of 71,119. Contineum Therapeutics has a 52 week low of $7.04 and a 52 week high of $22.00. The business's fifty day simple moving average is $11.67 and its two-hundred day simple moving average is $15.22.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 price target on shares of Contineum Therapeutics in a research report on Thursday, January 9th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $29.25.

Institutional Investors Weigh In On Contineum Therapeutics

Several hedge funds have recently added to or reduced their stakes in CTNM. Franklin Resources Inc. lifted 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 worth $27,706,000 after purchasing an additional 820,542 shares during the last quarter. Red Tree Management LLC bought a new stake in Contineum Therapeutics during the fourth quarter worth about $9,349,000. FMR LLC lifted its stake in Contineum Therapeutics by 115.4% during the third quarter. FMR LLC now owns 696,927 shares of the company's stock worth $13,339,000 after purchasing an additional 373,327 shares during the last quarter. Stempoint Capital LP bought a new stake in Contineum Therapeutics during the fourth quarter worth about $3,894,000. Finally, Norges Bank bought a new stake in Contineum Therapeutics during the fourth quarter worth about $2,487,000.

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).