Wellington Management Group LLP Increases Stake in Contineum Therapeutics, Inc. $CTNM

Key Points

• Wellington Management increased its Contineum Therapeutics stake by 171.2% in the second quarter, owning 150,797 shares valued at approximately $2.47 million, or 0.40% of the company.
• Contineum reported quarterly earnings of -$0.40 per share, beating the consensus estimate of -$0.45. Analysts expect a full-year loss of approximately $1.68 per share.
• CTNM opened at $14.66, while analysts maintained a mixed outlook: the stock has a consensus “Hold” rating and a $20.25 average price target, with ratings ranging from Buy to Sell.

Wellington Management Group LLP increased its stake in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 171.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,797 shares of the company's stock after purchasing an additional 95,188 shares during the period. Wellington Management Group LLP owned 0.40% of Contineum Therapeutics worth $2,472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Strs Ohio purchased a new position in shares of Contineum Therapeutics in the first quarter worth $27,000. Qube Research & Technologies Ltd acquired a new stake in shares of Contineum Therapeutics during the second quarter worth $43,000. Marex Group plc purchased a new stake in shares of Contineum Therapeutics during the second quarter valued at $45,000. Royal Bank of Canada grew its holdings in shares of Contineum Therapeutics by 73.5% during the first quarter. Royal Bank of Canada now owns 5,794 shares of the company's stock valued at $76,000 after buying an additional 2,454 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Contineum Therapeutics during the second quarter valued at $76,000.

Contineum Therapeutics Price Performance

NASDAQ CTNM opened at $14.66 on Friday. The company has a market capitalization of $551.51 million, a PE ratio of -8.47 and a beta of 0.75. The company has a fifty day moving average of $15.38 and a 200 day moving average of $14.06. Contineum Therapeutics, Inc. has a 1 year low of $8.60 and a 1 year high of $17.78.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CTNM shares. Morgan Stanley raised their target price on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada increased their price objective on Contineum Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Contineum Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, August 23rd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.25.

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). 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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