Schonfeld Strategic Advisors LLC Takes $1.85 Million Position in Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Schonfeld Strategic Advisors LLC purchased a new position in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 125,995 shares of the company's stock, valued at approximately $1,846,000. Schonfeld Strategic Advisors LLC owned 0.49% of Contineum Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in shares of Contineum Therapeutics by 130.9% during the third quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company's stock worth $27,706,000 after purchasing an additional 820,542 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Contineum Therapeutics by 46.4% during the fourth quarter. Geode Capital Management LLC now owns 188,408 shares of the company's stock worth $2,761,000 after purchasing an additional 59,732 shares during the period. Norges Bank acquired a new stake in shares of Contineum Therapeutics during the fourth quarter worth approximately $2,487,000. Northern Trust Corp boosted its holdings in shares of Contineum Therapeutics by 42.3% during the fourth quarter. Northern Trust Corp now owns 89,262 shares of the company's stock worth $1,308,000 after purchasing an additional 26,545 shares during the period. Finally, ADAR1 Capital Management LLC boosted its holdings in shares of Contineum Therapeutics by 817.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 82,234 shares of the company's stock worth $1,205,000 after purchasing an additional 73,267 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTNM. Morgan Stanley reiterated an "overweight" rating and issued a $25.00 target price on shares of Contineum Therapeutics in a research note on Friday, March 7th. Robert W. Baird reduced their target price on shares of Contineum Therapeutics from $32.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Finally, Jones Trading began 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. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $23.75.

Contineum Therapeutics Trading Down 2.0%

NASDAQ CTNM traded down $0.08 during trading on Friday, reaching $3.87. The company's stock had a trading volume of 56,428 shares, compared to its average volume of 79,102. The stock has a market capitalization of $100.12 million and a PE ratio of -0.79. The business has a 50-day moving average price of $5.60 and a 200-day moving average price of $10.33. Contineum Therapeutics, Inc. has a 1-year low of $3.64 and a 1-year high of $22.00.

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).