Contineum Therapeutics, Inc. (NASDAQ:CTNM) Short Interest Down 5.4% in December

Contineum Therapeutics, Inc. (NASDAQ:CTNM) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 983,600 shares, a drop of 5.4% from the November 30th total of 1,040,000 shares. Approximately 7.0% of the shares of the stock are short sold. Based on an average trading volume of 99,500 shares, the short-interest ratio is currently 9.9 days.

Wall Street Analysts Forecast Growth

CTNM has been the topic of a number of analyst reports. Royal Bank of Canada decreased their target price on shares of Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Baird R W upgraded Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird began coverage on Contineum Therapeutics in a report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $29.25.

Contineum Therapeutics Price Performance

Contineum Therapeutics stock traded up $0.18 during trading hours on Wednesday, reaching $14.65. The stock had a trading volume of 111,179 shares, compared to its average volume of 84,546. The company has a fifty day simple moving average of $15.42 and a 200-day simple moving average of $17.57. Contineum Therapeutics has a 52 week low of $12.33 and a 52 week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. As a group, equities analysts expect that Contineum Therapeutics will post -2.01 EPS for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CTNM. Versant Venture Management LLC purchased a new position in Contineum Therapeutics during the 2nd quarter valued at $16,169,000. Johnson & Johnson bought a new position in Contineum Therapeutics in the second quarter worth about $34,853,000. Perceptive Advisors LLC purchased a new stake in Contineum Therapeutics in the second quarter worth about $27,589,000. Squarepoint Ops LLC bought a new stake in Contineum Therapeutics during the 2nd quarter valued at approximately $2,642,000. Finally, BNP Paribas Financial Markets boosted its position in Contineum Therapeutics by 1,248.6% during 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.

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).