Geode Capital Management LLC Sells 27,745 Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Geode Capital Management LLC trimmed its holdings in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 17.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,676 shares of the company’s stock after selling 27,745 shares during the period. Geode Capital Management LLC owned about 0.50% of Contineum Therapeutics worth $2,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sandia Investment Management LP bought a new stake in shares of Contineum Therapeutics in the 2nd quarter worth approximately $88,000. Rhumbline Advisers bought a new position in shares of Contineum Therapeutics in the second quarter worth $118,000. BNP Paribas Financial Markets grew its position in shares of Contineum Therapeutics by 1,248.6% in the third quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock valued at $129,000 after purchasing an additional 6,243 shares in the last quarter. Barclays PLC grew its holdings 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 buying an additional 5,925 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Contineum Therapeutics during the second quarter valued at approximately $356,000.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Baird R W raised Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Robert W. Baird initiated coverage on Contineum Therapeutics in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $32.00 target price for the company. Finally, Royal Bank of Canada cut their price target on shares of Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Contineum Therapeutics has a consensus rating of “Buy” and an average target price of $29.25.

Contineum Therapeutics Price Performance

CTNM opened at $13.77 on Wednesday. The stock’s 50 day moving average price is $15.29 and its 200-day moving average price is $17.48. Contineum Therapeutics, Inc. has a 52-week low of $12.33 and a 52-week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.01. As a group, sell-side analysts predict that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Contineum Therapeutics Company 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).