Contineum Therapeutics, Inc. $CTNM Holdings Lessened by Versant Venture Management LLC

Versant Venture Management LLC decreased its holdings in Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 40.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 542,628 shares of the company’s stock after selling 375,535 shares during the period. Contineum Therapeutics accounts for approximately 2.6% of Versant Venture Management LLC’s holdings, making the stock its 6th biggest holding. Versant Venture Management LLC owned 2.10% of Contineum Therapeutics worth $2,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in Contineum Therapeutics during the first quarter worth approximately $27,000. Nuveen LLC purchased a new position in shares of Contineum Therapeutics in the 1st quarter worth approximately $93,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Contineum Therapeutics in the 1st quarter worth approximately $118,000. Y Intercept Hong Kong Ltd bought a new position in shares of Contineum Therapeutics during the 2nd quarter valued at approximately $140,000. Finally, Monaco Asset Management SAM purchased a new stake in Contineum Therapeutics during the 2nd quarter valued at $298,000.

Contineum Therapeutics Stock Up 3.2%

CTNM stock opened at $11.51 on Wednesday. Contineum Therapeutics, Inc. has a twelve month low of $3.35 and a twelve month high of $16.25. The firm has a market cap of $335.86 million, a price-to-earnings ratio of -5.12 and a beta of 1.26. The business’s fifty day simple moving average is $11.39 and its two-hundred day simple moving average is $7.68.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Thursday, October 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.13. Research analysts expect that Contineum Therapeutics, Inc. will post -2.01 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTNM. Leerink Partners initiated coverage on Contineum Therapeutics in a research report on Thursday, November 13th. They issued an “outperform” rating and a $22.00 price target for the company. Morgan Stanley increased their target price on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. Finally, Leerink Partnrs raised shares of Contineum Therapeutics to a “strong-buy” rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.60.

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).