ADAR1 Capital Management LLC Has $1.18 Million Stake in Contineum Therapeutics, Inc. $CTNM

Key Points

• ADAR1 Capital Management LLC has increased its holdings in Contineum Therapeutics, Inc. by 105.2%, owning approximately 168,765 shares worth about $1.18 million.
• Contineum Therapeutics reported a loss of $0.62 earnings per share, falling short of analysts' expectations, with a projected EPS of -2.01 for the current fiscal year.
• Analysts have issued a consensus price target of $22.75 for Contineum Therapeutics, with several firms, including Morgan Stanley and Royal Bank of Canada, offering positive ratings on the stock.

ADAR1 Capital Management LLC grew its holdings in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 105.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,765 shares of the company's stock after purchasing an additional 86,531 shares during the period. ADAR1 Capital Management LLC owned about 0.65% of Contineum Therapeutics worth $1,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTNM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Contineum Therapeutics by 90.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company's stock valued at $86,000 after acquiring an additional 2,783 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Contineum Therapeutics by 63.4% during the fourth quarter. Bank of America Corp DE now owns 9,132 shares of the company's stock worth $134,000 after acquiring an additional 3,542 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Contineum Therapeutics during the fourth quarter valued at $103,000. Barclays PLC grew its stake in Contineum Therapeutics by 96.0% in the fourth quarter. Barclays PLC now owns 16,286 shares of the company's stock valued at $239,000 after purchasing an additional 7,978 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Contineum Therapeutics by 419.3% in the 4th quarter. Wells Fargo & Company MN now owns 10,755 shares of the company's stock worth $158,000 after purchasing an additional 8,684 shares during the last quarter.

Analysts Set New Price Targets

CTNM has been the subject of several research reports. William Blair began coverage on Contineum Therapeutics in a report on Friday, June 20th. They set an "outperform" rating for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, May 15th. Finally, Morgan Stanley boosted their target price on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $22.75.

Contineum Therapeutics Price Performance

Shares of CTNM traded up $0.51 on Friday, reaching $11.50. 121,165 shares of the stock traded hands, compared to its average volume of 242,554. The firm has a market cap of $322.46 million, a price-to-earnings ratio of -5.23 and a beta of 1.19. The stock's 50-day moving average price is $6.66 and its 200-day moving average price is $5.70. Contineum Therapeutics, Inc. has a 12 month low of $3.35 and a 12 month high of $20.30.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.06). As a group, equities research analysts forecast that Contineum Therapeutics, Inc. will post -2.01 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).