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

Contineum Therapeutics, Inc. (NASDAQ:CTNM) experienced a notable reduction in short interest during the month of January. As of January 31st, the total short interest stood at 869,400 shares, which marks a decrease of 7.0% compared to the total short interest of 934,400 shares recorded on January 15th. This indicates that approximately 6.2% of the total shares of Contineum are currently sold short. Given the average daily trading volume of 92,900 shares, the days-to-cover ratio for the stock is currently estimated at 9.4 days.

Contineum Therapeutics Stock Performance

Contineum Therapeutics Trading Shows Slight Upward Movement

On a recent Monday, shares of Contineum Therapeutics traded up by 0.5%, rising by $0.04 to achieve a price of $7.73. During this trading session, 48,799 shares changed hands, which is fewer than the average trading volume of 71,285 shares. The company’s stock has a 50-day simple moving average of $12.21 and a 200-day simple moving average of $15.49. Over the past year, the stock has reached a low of $7.53 and a high of $22.00.

Changes in Institutional Investor Holdings

Recently, various hedge funds and institutional investors have adjusted their stakes in Contineum Therapeutics. For instance, Franklin Resources Inc. significantly increased its position in CTNM by 130.9% during the third quarter, acquiring an additional 820,542 shares and holding a total of 1,447,550 shares now valued at approximately $27,706,000. Additionally, Red Tree Management LLC entered into a new investment in Contineum in the fourth quarter, valued at around $9,349,000. FMR LLC also increased its stake by 115.4% during the third quarter by adding 373,327 shares, thus owning 696,927 shares valued at approximately $13,339,000. Further investments included Stempoint Capital LP and Norges Bank, which acquired new stakes in the fourth quarter worth about $3,894,000 and $2,487,000, respectively.

Recent Analyst Ratings

Contineum Therapeutics has been the focus of several recent analyst evaluations. Baird R W upgraded the shares to a "strong-buy" rating in a report on October 22nd. Furthermore, Robert W. Baird initiated coverage with an "outperform" rating and set a target price of $32.00 for the company. Royal Bank of Canada has also reiterated its "outperform" rating, establishing a target price of $31.00 on January 9th. Currently, four analysts have rated the stock as a buy, while one assigned a strong buy rating. According to MarketBeat.com, the consensus rating for the stock is "Buy" with an average target price of $29.25.

About Contineum Therapeutics

Contineum Therapeutics Company Overview

Contineum Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to discovering and developing new oral small molecule therapies aimed at treating conditions within neuroscience, inflammation, and immunology that currently have high levels of unmet need. The company's leading asset, PIPE-791, is a small molecule inhibitor targeting the lysophosphatidic acid 1 receptor (LPA1R), which is being developed for treating idiopathic pulmonary fibrosis and progressive multiple sclerosis (MS).

Contineum, Therapeutics, Stocks