Contineum Therapeutics, Inc. (NASDAQ:CTNM) Shares Sold by Suvretta Capital Management LLC

Suvretta Capital Management LLC lessened its position in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 16.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,720,000 shares of the company's stock after selling 333,334 shares during the period. Suvretta Capital Management LLC owned about 6.69% of Contineum Therapeutics worth $32,921,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CTNM. Johnson & Johnson purchased a new stake in Contineum Therapeutics in the 2nd quarter worth approximately $34,853,000. Perceptive Advisors LLC acquired a new stake in shares of Contineum Therapeutics during the second quarter worth $27,589,000. Versant Venture Management LLC purchased a new stake in shares of Contineum Therapeutics in the second quarter valued at $16,169,000. FMR LLC increased its stake in Contineum Therapeutics by 115.4% in the third quarter. FMR LLC now owns 696,927 shares of the company's stock valued at $13,339,000 after purchasing an additional 373,327 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Contineum Therapeutics during the second quarter worth about $2,642,000.

Contineum Therapeutics Stock Up 0.9 %

Shares of NASDAQ CTNM traded up $0.14 during midday trading on Friday, reaching $14.91. 33,025 shares of the company's stock were exchanged, compared to its average volume of 78,773. 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 $16.84 and its two-hundred day moving average price is $17.81.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.01. As a group, equities analysts anticipate that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

CTNM has been the subject of several recent analyst reports. Royal Bank of Canada lowered their price target on Contineum Therapeutics from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Baird R W upgraded Contineum Therapeutics to a "strong-buy" rating in a report on Tuesday, October 22nd. Finally, 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. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $29.25.

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).