Contineum Therapeutics, Inc.’s (NASDAQ:CTNM) Quiet Period Will Expire on May 15th

Contineum Therapeutics’ (NASDAQ:CTNM) quiet period will expire on Wednesday, May 15th. Contineum Therapeutics had issued 6,875,000 shares in its public offering on April 5th. The total size of the offering was $110,000,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTNM shares. Royal Bank of Canada assumed coverage on Contineum Therapeutics in a research note on Tuesday, April 30th. They issued an “outperform” rating and a $30.00 price objective for the company. Morgan Stanley assumed coverage on shares of Contineum Therapeutics in a research note on Tuesday, April 30th. They set an “overweight” rating and a $25.00 price target for the company. Finally, Stifel Nicolaus assumed coverage on shares of Contineum Therapeutics in a report on Tuesday, April 30th. They issued a “buy” rating and a $29.00 target price for the company.

Contineum Therapeutics Stock Up 2.1 %

NASDAQ:CTNM opened at $16.02 on Friday. Contineum Therapeutics has a fifty-two week low of $13.27 and a fifty-two week high of $16.09.

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).