Jones Trading Begins Coverage on Contineum Therapeutics (NASDAQ:CTNM)

Stock analysts at Jones Trading began coverage on shares of Contineum Therapeutics (NASDAQ:CTNM) in a report issued on Thursday,Benzinga reports. The firm set a “buy” rating and a $23.00 price target on the stock. Jones Trading’s price target would suggest a potential upside of 244.83% from the stock’s previous close.

A number of other brokerages have also recently weighed in on CTNM. Morgan Stanley reissued an “overweight” rating and set a $25.00 price target on shares of Contineum Therapeutics in a research report on Friday, March 7th. Robert W. Baird reduced their price target on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, 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. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $24.80.

Contineum Therapeutics Stock Down 6.6 %

Shares of NASDAQ CTNM opened at $6.67 on Thursday. The company’s fifty day moving average is $9.39 and its 200-day moving average is $14.03. The stock has a market cap of $171.94 million and a price-to-earnings ratio of -1.36. Contineum Therapeutics has a twelve month low of $5.92 and a twelve month high of $22.00.

Institutional Investors Weigh In On Contineum Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in shares of 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 acquiring an additional 820,542 shares during the period. FMR LLC increased its stake in Contineum Therapeutics by 115.4% in the 3rd 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 last quarter. Red Tree Management LLC acquired a new stake in Contineum Therapeutics in the 4th quarter valued at $9,349,000. Stempoint Capital LP acquired a new stake in Contineum Therapeutics in the 4th quarter valued at $3,894,000. Finally, Geode Capital Management LLC increased its stake in Contineum Therapeutics by 46.4% in the 4th quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $2,761,000 after buying an additional 59,732 shares during 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).