Squarepoint Ops LLC Sells 132,761 Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Squarepoint Ops LLC cut its stake in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,239 shares of the company's stock after selling 132,761 shares during the quarter. Squarepoint Ops LLC owned approximately 0.84% of Contineum Therapeutics worth $3,183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTNM. Red Tree Management LLC bought a new stake in Contineum Therapeutics in the 4th quarter worth about $9,349,000. Stempoint Capital LP bought a new stake in Contineum Therapeutics during the fourth quarter valued at $3,894,000. Geode Capital Management LLC boosted its position in shares of Contineum Therapeutics by 46.4% during the 4th quarter. Geode Capital Management LLC now owns 188,408 shares of the company's stock valued at $2,761,000 after acquiring an additional 59,732 shares during the last quarter. Norges Bank purchased a new position in Contineum Therapeutics in the 4th quarter worth approximately $2,487,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Contineum Therapeutics in the fourth quarter valued at $1,846,000.

Contineum Therapeutics Stock Up 1.5%

CTNM traded up $0.06 during mid-day trading on Friday, reaching $3.63. 35,414 shares of the company traded hands, compared to its average volume of 82,508. The stock has a market capitalization of $93.79 million and a P/E ratio of -1.85. Contineum Therapeutics, Inc. has a 52-week low of $3.35 and a 52-week high of $22.00. The company's fifty day moving average price is $4.65 and its 200-day moving average price is $9.12.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, sell-side analysts forecast that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTNM shares. Morgan Stanley decreased their target price on shares of Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Royal Bank of Canada restated an "outperform" rating and set a $31.00 target price on shares of Contineum Therapeutics in a report on Thursday, May 15th. Jones Trading began coverage on Contineum Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $23.00 price objective for the company. Finally, Robert W. Baird reduced their price target on Contineum Therapeutics from $32.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Four research 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.com, the stock has a consensus rating of "Buy" and a consensus target price of $22.50.

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).