Polar Capital Holdings Plc Sells 172,997 Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Polar Capital Holdings Plc lessened its holdings in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) by 79.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,604 shares of the company's stock after selling 172,997 shares during the period. Polar Capital Holdings Plc owned about 0.17% of Contineum Therapeutics worth $639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTNM. Legal & General Group Plc increased its position in shares of Contineum Therapeutics by 74.0% during the fourth quarter. Legal & General Group Plc now owns 3,631 shares of the company's stock valued at $53,000 after acquiring an additional 1,544 shares during the last quarter. Corebridge Financial Inc. increased its position in shares of Contineum Therapeutics by 73.1% during the fourth 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Contineum Therapeutics by 90.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company's stock valued at $86,000 after acquiring an additional 2,783 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Contineum Therapeutics during the fourth quarter valued at approximately $103,000. Finally, Rhumbline Advisers boosted 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 acquiring an additional 2,191 shares during the last quarter.

Wall Street Analyst Weigh In

CTNM has been the topic of a number of research analyst reports. Robert W. Baird dropped their target price on shares of Contineum Therapeutics from $32.00 to $16.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 target price on shares of Contineum Therapeutics in a research note on Thursday, May 15th. Morgan Stanley dropped 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 note on Monday. Finally, Jones Trading assumed 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 on the stock. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Contineum Therapeutics has an average rating of "Buy" and an average price target of $22.50.

Contineum Therapeutics Stock Down 12.4%

CTNM traded down $0.54 on Tuesday, hitting $3.83. The company's stock had a trading volume of 158,264 shares, compared to its average volume of 81,192. The company's 50 day simple moving average is $5.23 and its 200-day simple moving average is $9.79. The firm has a market cap of $99.09 million and a P/E ratio of -1.94. Contineum Therapeutics, Inc. has a 12 month low of $3.43 and a 12 month high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Equities analysts predict that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

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).