Contineum Therapeutics, Inc.’s Lock-Up Period To End on October 2nd (NASDAQ:CTNM)

Contineum Therapeutics’ (NASDAQ:CTNM) lock-up period is set to end 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 the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised their price objective 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 Price Performance

CTNM stock opened at $18.81 on Wednesday. Contineum Therapeutics has a one year low of $13.27 and a one year high of $22.00. The firm’s 50-day moving average price is $18.86.

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

Institutional Trading of Contineum Therapeutics

Hedge funds have recently bought and sold shares of the company. Sandia Investment Management LP purchased a new stake in shares of Contineum Therapeutics in the second quarter worth approximately $88,000. Rhumbline Advisers purchased a new stake in shares of Contineum Therapeutics in the second quarter worth approximately $118,000. Bank of New York Mellon Corp purchased a new stake in shares of Contineum Therapeutics in the second quarter worth approximately $356,000. Driehaus Capital Management LLC purchased a new stake in shares of Contineum Therapeutics in the second quarter worth approximately $1,174,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Contineum Therapeutics in the second quarter worth approximately $2,642,000.

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).