Contineum Therapeutics, Inc.’s Lock-Up Period To End Tomorrow (NASDAQ:CTNM)

Contineum Therapeutics’ (NASDAQ:CTNM) lock-up period is set to expire on Wednesday, October 2nd. Contineum Therapeutics had issued 6,875,000 shares in its public offering on April 5th. The total size of the offering was $110,000,000 based on an initial share price of $16.00. After the expiration of Contineum Therapeutics’ lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their price target on shares of Contineum Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th.

Contineum Therapeutics Stock Performance

Shares of CTNM stock opened at $19.14 on Tuesday. Contineum Therapeutics has a 1 year low of $13.27 and a 1 year high of $22.00. The business’s 50-day moving average price is $18.73.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.02). Analysts predict that Contineum Therapeutics will post -2.04 earnings per share for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Several institutional investors have recently added to or reduced their stakes in CTNM. Versant Venture Management LLC purchased a new position in shares of Contineum Therapeutics in the 2nd quarter valued at approximately $16,169,000. Johnson & Johnson acquired a new stake in shares of Contineum Therapeutics during the second quarter worth $34,853,000. Perceptive Advisors LLC purchased a new position in Contineum Therapeutics in the 2nd quarter valued at $27,589,000. Bank of New York Mellon Corp purchased a new position in Contineum Therapeutics in the 2nd quarter valued at $356,000. Finally, Sandia Investment Management LP acquired a new position in Contineum Therapeutics in the 2nd quarter valued at $88,000.

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).