Contineum Therapeutics, Inc. (NASDAQ:CTNM) Position Boosted by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC increased its stake in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 817.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,234 shares of the company’s stock after purchasing an additional 73,267 shares during the quarter. ADAR1 Capital Management LLC’s holdings in Contineum Therapeutics were worth $1,205,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Corebridge Financial Inc. increased its holdings in Contineum Therapeutics by 73.1% in the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock worth $76,000 after buying an additional 2,202 shares during the last quarter. Rhumbline Advisers grew its position in shares of 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 purchasing an additional 2,191 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Contineum Therapeutics by 1,248.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock valued at $129,000 after buying an additional 6,243 shares during the last quarter. Barclays PLC raised its stake in Contineum Therapeutics by 248.6% during the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock valued at $158,000 after purchasing an additional 5,925 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Contineum Therapeutics by 419.3% in the fourth quarter. Wells Fargo & Company MN now owns 10,755 shares of the company’s stock valued at $158,000 after buying an additional 8,684 shares during the period.

Contineum Therapeutics Stock Performance

Shares of CTNM stock opened at $5.80 on Monday. The company has a market capitalization of $150.06 million and a price-to-earnings ratio of -1.18. Contineum Therapeutics, Inc. has a 52 week low of $5.25 and a 52 week high of $22.00. The company has a 50-day simple moving average of $7.73 and a 200 day simple moving average of $12.78.

Wall Street Analyst Weigh In

CTNM has been the subject of a number of recent analyst reports. Jones Trading assumed coverage on shares of Contineum Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $23.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Contineum Therapeutics in a research report on Friday, March 7th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Contineum Therapeutics in a report on Thursday, January 9th. Finally, Robert W. Baird lowered their price target on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Contineum Therapeutics has a consensus rating of “Buy” and a consensus price target of $24.80.

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).