Franklin Resources Inc. Acquires 820,542 Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Franklin Resources Inc. raised its holdings in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 130.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,447,550 shares of the company's stock after purchasing an additional 820,542 shares during the quarter. Franklin Resources Inc. owned 5.62% of Contineum Therapeutics worth $27,706,000 as of its most recent filing with the Securities & Exchange Commission.

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

Contineum Therapeutics Stock Down 2.9 %

Shares of NASDAQ CTNM traded down $0.40 during trading hours on Thursday, reaching $13.35. The stock had a trading volume of 193,811 shares, compared to its average volume of 81,262. Contineum Therapeutics, Inc. has a 52-week low of $12.33 and a 52-week high of $22.00. The business's fifty day moving average price is $15.80 and its two-hundred day moving average price is $17.68.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last issued its 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. Sell-side analysts expect that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CTNM. Royal Bank of Canada decreased their price objective on shares of Contineum Therapeutics from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Robert W. Baird initiated coverage on Contineum Therapeutics in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $32.00 price target for the company. Finally, Baird R W upgraded Contineum Therapeutics to a "strong-buy" rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target 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).