Fmr LLC Raises Stake in Contineum Therapeutics, Inc. (NASDAQ:CTNM)

FMR LLC raised its holdings in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 115.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 696,927 shares of the company's stock after purchasing an additional 373,327 shares during the period. FMR LLC owned approximately 2.71% of Contineum Therapeutics worth $13,339,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sandia Investment Management LP bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth approximately $88,000. Rhumbline Advisers bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth approximately $118,000. Bank of New York Mellon Corp bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth approximately $356,000. Driehaus Capital Management LLC acquired a new position in Contineum Therapeutics during the 2nd quarter worth approximately $1,174,000. Finally, Squarepoint Ops LLC acquired a new position in Contineum Therapeutics during the 2nd quarter worth approximately $2,642,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTNM. Robert W. Baird began coverage on shares of Contineum Therapeutics in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $32.00 price target for the company. Baird R W upgraded shares of Contineum Therapeutics to a "strong-buy" rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased 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. Four research 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 has an average rating of "Buy" and an average price target of $29.25.

Contineum Therapeutics Price Performance

Shares of NASDAQ:CTNM traded down $0.17 during midday trading on Wednesday, reaching $14.25. The company had a trading volume of 47,148 shares, compared to its average volume of 77,875. The company's 50 day moving average price is $16.18 and its 200 day moving average price is $17.76. Contineum Therapeutics, Inc. has a 52-week low of $12.33 and a 52-week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.01. On average, equities research analysts forecast that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current year.

About Contineum Therapeutics

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).