Contineum Therapeutics, Inc. (NASDAQ:CTNM) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc lessened its holdings in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 79.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,604 shares of the company's stock after selling 172,997 shares during the quarter. Polar Capital Holdings Plc owned about 0.17% of Contineum Therapeutics worth $639,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Nuveen Asset Management LLC acquired a new stake in Contineum Therapeutics in the fourth quarter valued at approximately $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Contineum Therapeutics by 90.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company's stock valued at $86,000 after buying an additional 2,783 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Contineum Therapeutics in the 4th quarter valued at $1,001,000. Deutsche Bank AG purchased a new position in Contineum Therapeutics in the 4th quarter valued at $236,000. Finally, Bank of America Corp DE grew its position in Contineum Therapeutics by 63.4% in the 4th quarter. Bank of America Corp DE now owns 9,132 shares of the company's stock valued at $134,000 after buying an additional 3,542 shares during the last quarter.

Wall Street Analysts Forecast Growth

CTNM has been the topic of a number of analyst reports. Jones Trading initiated coverage on shares of Contineum Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $23.00 price objective on the stock. Morgan Stanley lowered their price objective 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. Robert W. Baird lowered their price objective on shares of Contineum Therapeutics from $32.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, May 15th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $22.50.

Contineum Therapeutics Stock Performance

Shares of NASDAQ:CTNM traded down $0.05 during trading on Thursday, reaching $3.81. 36,875 shares of the stock were exchanged, compared to its average volume of 81,250. Contineum Therapeutics, Inc. has a 12-month low of $3.43 and a 12-month high of $22.00. The firm has a market cap of $98.57 million and a price-to-earnings ratio of -1.93. The firm's 50-day moving average price is $5.11 and its 200 day moving average price is $9.71.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. 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 EPS for the current year.

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).