Contineum Therapeutics, Inc. (NASDAQ:CTNM) Short Interest Update

Contineum Therapeutics, Inc. (NASDAQ:CTNM) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 869,400 shares, a decline of 7.0% from the January 15th total of 934,400 shares. Based on an average daily trading volume, of 92,900 shares, the short-interest ratio is presently 9.4 days. Currently, 6.2% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms recently weighed in on CTNM. Baird R W raised shares of Contineum Therapeutics to a “strong-buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Contineum Therapeutics in a research note on Thursday, January 9th. Finally, Robert W. Baird began coverage on shares of Contineum Therapeutics in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $32.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Contineum Therapeutics has a consensus rating of “Buy” and an average target price of $29.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its holdings in shares of Contineum Therapeutics by 74.0% in the fourth quarter. Legal & General Group Plc now owns 3,631 shares of the company’s stock valued at $53,000 after buying an additional 1,544 shares during the period. Corebridge Financial Inc. boosted its holdings in Contineum Therapeutics by 73.1% during the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock worth $76,000 after purchasing an additional 2,202 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Contineum Therapeutics by 90.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock worth $86,000 after purchasing an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Contineum Therapeutics by 1,248.6% during the third quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock worth $129,000 after purchasing an additional 6,243 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new position in Contineum Therapeutics during the fourth quarter worth $103,000.

Contineum Therapeutics Stock Up 0.5 %

NASDAQ:CTNM traded up $0.04 during trading hours on Monday, hitting $7.73. The stock had a trading volume of 48,799 shares, compared to its average volume of 71,285. Contineum Therapeutics has a one year low of $7.53 and a one year high of $22.00. The business’s 50 day moving average is $12.21 and its 200-day moving average is $15.49.

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).