Geode Capital Management LLC Buys 59,732 Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Geode Capital Management LLC raised its stake in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 46.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,408 shares of the company's stock after acquiring an additional 59,732 shares during the quarter. Geode Capital Management LLC owned about 0.73% of Contineum Therapeutics worth $2,761,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Corebridge Financial Inc. raised its position in shares of Contineum Therapeutics by 73.1% during the 4th quarter. Corebridge Financial Inc. now owns 5,215 shares of the company's stock valued at $76,000 after acquiring an additional 2,202 shares during the last quarter. Rhumbline Advisers lifted its stake in Contineum Therapeutics by 36.3% in the fourth quarter. Rhumbline Advisers now owns 8,233 shares of the company's stock valued at $121,000 after buying an additional 2,191 shares during the period. Barclays PLC boosted its holdings in Contineum Therapeutics by 248.6% during the third quarter. Barclays PLC now owns 8,308 shares of the company's stock worth $158,000 after buying an additional 5,925 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Contineum Therapeutics by 32.3% during the 4th quarter. Bank of New York Mellon Corp now owns 18,738 shares of the company's stock worth $275,000 after buying an additional 4,573 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Contineum Therapeutics by 1,040.7% in the 4th quarter. JPMorgan Chase & Co. now owns 28,426 shares of the company's stock valued at $416,000 after acquiring an additional 25,934 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CTNM shares. Jones Trading started coverage on shares of Contineum Therapeutics in a research note on Thursday, March 13th. They issued a "buy" rating and a $23.00 target price for the company. Morgan Stanley restated an "overweight" rating and issued a $25.00 price objective on shares of Contineum Therapeutics in a research report on Friday, March 7th. Robert W. Baird reduced their target price on Contineum Therapeutics from $32.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $31.00 price target on shares of Contineum Therapeutics in a report on Thursday, January 9th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $23.75.

Contineum Therapeutics Stock Up 3.4 %

Shares of NASDAQ:CTNM traded up $0.14 during midday trading on Friday, reaching $4.11. The company had a trading volume of 108,689 shares, compared to its average volume of 68,798. Contineum Therapeutics, Inc. has a 1-year low of $3.69 and a 1-year high of $22.00. The stock has a market cap of $106.20 million and a PE ratio of -0.84. The business's 50 day moving average price is $5.96 and its 200 day moving average price is $10.93.

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).