91,442 Shares in Contineum Therapeutics, Inc. $CTNM Purchased by 683 Capital Management LLC

683 Capital Management LLC acquired a new position in Contineum Therapeutics, Inc. (NASDAQ:CTNM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 91,442 shares of the company’s stock, valued at approximately $1,045,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTNM. RA Capital Management L.P. purchased a new stake in Contineum Therapeutics in the 3rd quarter worth about $24,934,000. Balyasny Asset Management L.P. purchased a new stake in Contineum Therapeutics in the 3rd quarter worth about $11,178,000. Franklin Resources Inc. raised its position in Contineum Therapeutics by 13.5% in the 4th quarter. Franklin Resources Inc. now owns 1,879,367 shares of the company’s stock worth $21,481,000 after purchasing an additional 223,819 shares during the period. Vanguard Group Inc. raised its position in Contineum Therapeutics by 29.6% in the 3rd quarter. Vanguard Group Inc. now owns 964,232 shares of the company’s stock worth $11,330,000 after purchasing an additional 220,231 shares during the period. Finally, ADAR1 Capital Management LLC raised its position in Contineum Therapeutics by 257.8% in the 4th quarter. ADAR1 Capital Management LLC now owns 278,961 shares of the company’s stock worth $3,189,000 after purchasing an additional 201,000 shares during the period.

Contineum Therapeutics Stock Performance

NASDAQ CTNM opened at $12.16 on Thursday. The firm’s 50 day moving average price is $13.04 and its 200-day moving average price is $12.99. Contineum Therapeutics, Inc. has a 52-week low of $3.57 and a 52-week high of $16.33. The company has a market cap of $454.66 million, a PE ratio of -6.24 and a beta of 0.89.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.16. On average, analysts forecast that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CTNM has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Robert W. Baird upped their target price on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.