Contineum Therapeutics, Inc.'s Lock-Up Period Will End on October 2nd (NASDAQ:CTNM)

Contineum Therapeutics' (NASDAQ:CTNM - Get Free Report) lock-up period is set to end on Wednesday, October 2nd. Contineum Therapeutics had issued 6,875,000 shares in its public offering on April 5th. The total size of the offering was $110,000,000 based on an initial share price of $16.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analysts Set New Price Targets

Separately, Royal Bank of Canada increased their target price on Contineum Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th.

Contineum Therapeutics Stock Down 3.3 %

Shares of CTNM traded down $0.62 during midday trading on Wednesday, hitting $18.19. 25,760 shares of the company traded hands, compared to its average volume of 76,200. Contineum Therapeutics has a one year low of $13.27 and a one year high of $22.00. The stock's 50-day moving average is $18.80.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.02). Analysts expect that Contineum Therapeutics will post -2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

Large investors have recently added to or reduced their stakes in the business. Sandia Investment Management LP bought a new stake in Contineum Therapeutics during the second quarter valued at approximately $88,000. Rhumbline Advisers purchased a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at $118,000. Bank of New York Mellon Corp bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth $356,000. Driehaus Capital Management LLC purchased a new position in Contineum Therapeutics in the second quarter worth $1,174,000. Finally, Squarepoint Ops LLC bought a new position in Contineum Therapeutics in the second quarter valued at $2,642,000.

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).