Contineum Therapeutics, Inc. (NASDAQ:CTNM) Short Interest Down 7.0% in January

Contineum Therapeutics, Inc. (NASDAQ:CTNM) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 869,400 shares, a drop of 7.0% from the January 15th total of 934,400 shares. Based on an average trading volume of 92,900 shares, the days-to-cover ratio is currently 9.4 days. Currently, 6.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Contineum Therapeutics

Hedge funds have recently made changes to their positions in the stock. Stempoint Capital LP acquired a new position in Contineum Therapeutics in the 4th quarter valued at approximately $3,894,000. Red Tree Management LLC acquired a new position in shares of Contineum Therapeutics in the fourth quarter valued at $9,349,000. Nuveen Asset Management LLC acquired a new position in shares of Contineum Therapeutics in the fourth quarter valued at $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Contineum Therapeutics by 90.4% in 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 period. Finally, Janus Henderson Group PLC acquired a new stake in Contineum Therapeutics during the fourth quarter worth $1,001,000.

Contineum Therapeutics Stock Performance

NASDAQ CTNM opened at $7.36 on Wednesday. The company’s fifty day moving average is $12.07 and its two-hundred day moving average is $15.41. Contineum Therapeutics has a 52-week low of $7.32 and a 52-week high of $22.00.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CTNM shares. Robert W. Baird assumed coverage on shares of Contineum Therapeutics in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 target price for the company. Baird R W raised Contineum Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Contineum Therapeutics in a research note on Thursday, January 9th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $29.25.

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).