Robert W. Baird Cuts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $16.00

Contineum Therapeutics (NASDAQ:CTNM) had its price objective cut by Robert W. Baird from $32.00 to $16.00 in a research note published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, January 9th. Four 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 stock presently has a consensus rating of “Buy” and a consensus target price of $25.25.

Contineum Therapeutics Price Performance

NASDAQ:CTNM opened at $6.77 on Friday. Contineum Therapeutics has a 12-month low of $5.92 and a 12-month high of $22.00. The firm has a market capitalization of $174.52 million and a P/E ratio of -1.38. The business has a 50 day simple moving average of $10.12 and a 200 day simple moving average of $14.38.

Institutional Trading of Contineum Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Stempoint Capital LP bought a new stake in Contineum Therapeutics during the 4th quarter valued at $3,894,000. Red Tree Management LLC bought a new stake in Contineum Therapeutics during the 4th quarter valued at $9,349,000. Nuveen Asset Management LLC bought a new stake in Contineum Therapeutics during the 4th quarter valued at $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Contineum Therapeutics by 90.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock valued at $86,000 after acquiring an additional 2,783 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Contineum Therapeutics during the 4th quarter valued at $1,001,000.

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).