Perceptive Advisors LLC Sells 209,000 Shares of Contineum Therapeutics, Inc. $CTNM

Perceptive Advisors LLC cut its position in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 14.3% during the first quarter, Holdings Channel reports. The institutional investor owned 1,255,592 shares of the company’s stock after selling 209,000 shares during the quarter. Perceptive Advisors LLC’s holdings in Contineum Therapeutics were worth $16,398,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Suvretta Capital Management LLC raised its holdings in Contineum Therapeutics by 65.2% in the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock valued at $32,476,000 after acquiring an additional 1,121,334 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Contineum Therapeutics by 11.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock worth $35,594,000 after purchasing an additional 285,857 shares in the last quarter. RA Capital Management L.P. grew its holdings in shares of Contineum Therapeutics by 2.7% during the 4th quarter. RA Capital Management L.P. now owns 2,179,711 shares of the company’s stock worth $24,914,000 after purchasing an additional 57,711 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Contineum Therapeutics by 13.5% during the fourth quarter. Franklin Resources Inc. now owns 1,879,367 shares of the company’s stock valued at $21,481,000 after purchasing an additional 223,819 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in shares of Contineum Therapeutics by 93.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,842,800 shares of the company’s stock valued at $21,063,000 after purchasing an additional 891,480 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CTNM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada lifted their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley increased their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Contineum Therapeutics has a consensus rating of “Hold” and a consensus target price of $20.25.

Contineum Therapeutics Trading Down 1.7%

CTNM stock opened at $15.49 on Friday. Contineum Therapeutics, Inc. has a 1-year low of $5.07 and a 1-year high of $16.91. The business’s 50 day moving average is $13.64 and its 200-day moving average is $13.62. The firm has a market cap of $579.17 million, a P/E ratio of -8.95 and a beta of 0.70.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. Sell-side analysts forecast that Contineum Therapeutics, Inc. will post -1.68 EPS for the current year.

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). 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.