Fmr LLC Buys 373,327 Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Fmr LLC grew its holdings in Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 115.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 696,927 shares of the company’s stock after acquiring an additional 373,327 shares during the quarter. Fmr LLC owned 2.71% of Contineum Therapeutics worth $13,339,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CTNM. Perceptive Advisors LLC bought a new position in Contineum Therapeutics in the second quarter valued at approximately $27,589,000. Driehaus Capital Management LLC acquired a new position in Contineum Therapeutics in the 2nd quarter valued at $1,174,000. Squarepoint Ops LLC acquired a new position in Contineum Therapeutics in the 2nd quarter valued at $2,642,000. Sandia Investment Management LP acquired a new position in shares of Contineum Therapeutics during the 2nd quarter worth $88,000. Finally, Johnson & Johnson acquired a new position in shares of Contineum Therapeutics during the 2nd quarter worth $34,853,000.

Contineum Therapeutics Stock Down 0.6 %

Contineum Therapeutics stock opened at $14.42 on Wednesday. Contineum Therapeutics, Inc. has a one year low of $12.33 and a one year high of $22.00. The business has a fifty day moving average price of $16.34 and a 200-day moving average price of $17.80.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly 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. On average, research analysts predict that Contineum Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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