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

Contineum Therapeutics, Inc. (NASDAQ:CTNM) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 983,600 shares, a decrease of 5.4% from the November 30th total of 1,040,000 shares. Based on an average daily trading volume, of 99,500 shares, the days-to-cover ratio is presently 9.9 days. Approximately 7.0% of the company’s stock are short sold.

Contineum Therapeutics Stock Up 1.2 %

NASDAQ:CTNM traded up $0.18 on Wednesday, reaching $14.65. 111,179 shares of the stock traded hands, compared to its average volume of 84,546. Contineum Therapeutics has a 12 month low of $12.33 and a 12 month high of $22.00. The company’s fifty day simple moving average is $15.42 and its 200 day simple moving average is $17.57.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.01. Analysts predict that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTNM. Royal Bank of Canada lowered their price target on shares of Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Baird R W upgraded shares of Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird started coverage on Contineum Therapeutics in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $32.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $29.25.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CTNM. Bank of New York Mellon Corp purchased a new position in shares of Contineum Therapeutics during the second quarter valued at approximately $356,000. Rhumbline Advisers bought a new stake in Contineum Therapeutics in the 2nd quarter worth approximately $118,000. Versant Venture Management LLC purchased a new stake in Contineum Therapeutics during the 2nd quarter valued at $16,169,000. Johnson & Johnson bought a new position in shares of Contineum Therapeutics during the 2nd quarter valued at $34,853,000. Finally, Sandia Investment Management LP purchased a new position in shares of Contineum Therapeutics in the 2nd quarter worth $88,000.

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).