Commodore Capital LP Invests $9.33 Million in Contineum Therapeutics, Inc. $CTNM

Commodore Capital LP purchased a new position in Contineum Therapeutics, Inc. (NASDAQ:CTNM) during the fourth quarter, Holdings Channel.com reports. The firm purchased 816,326 shares of the company’s stock, valued at approximately $9,331,000. Contineum Therapeutics comprises about 0.6% of Commodore Capital LP’s investment portfolio, making the stock its 29th biggest position.

A number of other institutional investors have also recently bought and sold shares of the company. Strs Ohio purchased a new position in Contineum Therapeutics in the first quarter valued at about $27,000. Qube Research & Technologies Ltd purchased a new stake in shares of Contineum Therapeutics during the 2nd quarter worth about $43,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Contineum Therapeutics during the 4th quarter valued at about $43,000. Marex Group plc bought a new stake in shares of Contineum Therapeutics in the 2nd quarter valued at approximately $45,000. Finally, Bridgeway Capital Management LLC acquired a new position in Contineum Therapeutics in the second quarter worth approximately $76,000.

Contineum Therapeutics Stock Performance

Contineum Therapeutics stock opened at $12.16 on Thursday. Contineum Therapeutics, Inc. has a 52 week low of $3.57 and a 52 week high of $16.33. The firm has a market capitalization of $454.66 million, a PE ratio of -6.24 and a beta of 0.89. The business’s 50-day simple moving average is $13.04 and its 200-day simple moving average is $12.99.

Contineum Therapeutics (NASDAQ:CTNM) last announced its earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.16. Research analysts forecast that Contineum Therapeutics, Inc. will post -1.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on CTNM. Morgan Stanley boosted their target price on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 14th. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th. Finally, Robert W. Baird raised their target price on Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.