Perceptive Advisors LLC Has $16.40 Million Stake in Contineum Therapeutics, Inc. $CTNM

Key Points

• Perceptive Advisors reduced its Contineum Therapeutics stake by 14.3% in the first quarter, selling 209,000 shares. It still held 1.26 million shares valued at $16.4 million, representing 3.36% of the company.
• Several other institutional investors increased their positions, including Janus Henderson, which added 285,857 shares, and Bank of America, which raised its stake by 411.9%.
• CTNM recently traded at $15.49 after a 1.7% decline, while analysts maintained an average “Hold” rating and a $20.25 price target. The company also exceeded quarterly EPS expectations, reporting a loss of $0.40 versus the projected $0.45 loss.

Perceptive Advisors LLC trimmed its stake in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,255,592 shares of the company's stock after selling 209,000 shares during the period. Perceptive Advisors LLC owned 3.36% of Contineum Therapeutics worth $16,398,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in Contineum Therapeutics by 411.9% during the first quarter. Bank of America Corp DE now owns 47,449 shares of the company's stock worth $620,000 after purchasing an additional 38,180 shares during the period. Janus Henderson Group PLC raised its position in shares of Contineum Therapeutics by 11.7% in the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company's stock valued at $35,594,000 after purchasing an additional 285,857 shares during the period. Royal Bank of Canada lifted its stake in shares of Contineum Therapeutics by 73.5% in the first quarter. Royal Bank of Canada now owns 5,794 shares of the company's stock worth $76,000 after buying an additional 2,454 shares during the last quarter. Eversept Partners LP lifted its stake in shares of Contineum Therapeutics by 6.5% in the first quarter. Eversept Partners LP now owns 146,411 shares of the company's stock worth $1,912,000 after buying an additional 8,918 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Contineum Therapeutics by 21.5% in the first quarter. Renaissance Technologies LLC now owns 69,400 shares of the company's stock worth $906,000 after buying an additional 12,300 shares during the last quarter.

Contineum Therapeutics Trading Down 1.7%

CTNM opened at $15.49 on Friday. Contineum Therapeutics, Inc. has a 1-year low of $5.07 and a 1-year high of $16.91. The stock has a market capitalization of $579.17 million, a price-to-earnings ratio of -8.95 and a beta of 0.70. The business has a 50 day moving average of $13.64 and a 200-day moving average of $13.62.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.05. Equities analysts predict that Contineum Therapeutics, Inc. will post -1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CTNM shares. Wall Street Zen upgraded shares of Contineum Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Morgan Stanley upped their price target on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada raised their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.25.

Contineum Therapeutics 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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.

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