Squarepoint Ops LLC Invests $2.64 Million in Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Squarepoint Ops LLC purchased a new position in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 150,000 shares of the company's stock, valued at approximately $2,642,000. Squarepoint Ops LLC owned about 0.58% of Contineum Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Johnson & Johnson bought a new position in Contineum Therapeutics in the second quarter valued at $34,853,000. Versant Venture Management LLC bought a new position in shares of Contineum Therapeutics during the 2nd quarter valued at about $16,169,000. Bank of New York Mellon Corp bought a new position in shares of Contineum Therapeutics during the 2nd quarter valued at about $356,000. Rhumbline Advisers purchased a new position in shares of Contineum Therapeutics during the 2nd quarter valued at about $118,000. Finally, Sandia Investment Management LP bought a new stake in Contineum Therapeutics in the 2nd quarter worth approximately $88,000.

Wall Street Analysts Forecast Growth

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

Contineum Therapeutics Trading Down 1.0 %

Shares of CTNM traded down $0.18 during trading hours on Thursday, hitting $17.63. The company had a trading volume of 73,436 shares, compared to its average volume of 78,687. Contineum Therapeutics, Inc. has a 52-week low of $13.27 and a 52-week high of $22.00. The company's 50 day moving average is $18.49.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.02). Equities research analysts forecast that Contineum Therapeutics, Inc. will post -2.04 earnings per share for the current fiscal 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).