Morgan Stanley Reiterates Overweight Rating for Contineum Therapeutics (NASDAQ:CTNM)

Morgan Stanley restated their overweight rating on shares of Contineum Therapeutics (NASDAQ:CTNM - Free Report) in a report released on Friday,Benzinga reports. They currently have a $25.00 price objective on the stock.

CTNM has been the topic of several other research reports. Robert W. Baird reduced their price objective on shares of Contineum Therapeutics from $32.00 to $16.00 and set an "outperform" rating on the stock in a research note on Friday. Royal Bank of Canada reissued an "outperform" rating and set 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, the company currently has an average rating of "Buy" and a consensus price target of $25.25.

Contineum Therapeutics Stock Performance

CTNM traded up $0.17 during midday trading on Friday, reaching $7.57. 50,188 shares of the company were exchanged, compared to its average volume of 85,413. The stock has a market capitalization of $195.14 million and a P/E ratio of -1.54. Contineum Therapeutics has a one year low of $5.92 and a one year high of $22.00. The stock's 50-day simple moving average is $9.84 and its 200 day simple moving average is $14.22.

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Institutional Trading of Contineum Therapeutics

A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Contineum Therapeutics by 115.4% in 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. BNP Paribas Financial Markets lifted its position in Contineum Therapeutics by 1,248.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company's stock valued at $129,000 after acquiring an additional 6,243 shares in the last quarter. State Street Corp boosted its stake in Contineum Therapeutics by 23.7% in the 3rd 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. Barclays PLC increased its holdings in Contineum Therapeutics by 248.6% during the 3rd quarter. Barclays PLC now owns 8,308 shares of the company's stock worth $158,000 after purchasing an additional 5,925 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in 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.

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).