Suvretta Capital Management LLC Sells 333,334 Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Suvretta Capital Management LLC reduced its position in Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 16.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,720,000 shares of the company’s stock after selling 333,334 shares during the period. Suvretta Capital Management LLC owned 6.69% of Contineum Therapeutics worth $32,921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in Contineum Therapeutics by 1,248.6% in the third quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock worth $129,000 after purchasing an additional 6,243 shares during the period. FMR LLC grew its position in shares of Contineum Therapeutics by 115.4% during the 3rd quarter. FMR LLC now owns 696,927 shares of the company’s stock worth $13,339,000 after buying an additional 373,327 shares during the period. Perceptive Advisors LLC bought a new stake in shares of Contineum Therapeutics during the second quarter worth approximately $27,589,000. Driehaus Capital Management LLC acquired a new position in Contineum Therapeutics in the second quarter valued at approximately $1,174,000. Finally, Squarepoint Ops LLC bought a new position in Contineum Therapeutics in the second quarter valued at approximately $2,642,000.

Contineum Therapeutics Trading Up 1.7 %

CTNM stock opened at $14.77 on Friday. Contineum Therapeutics, Inc. has a 1-year low of $12.33 and a 1-year high of $22.00. The business’s 50-day moving average price is $16.94 and its two-hundred day moving average price is $17.82.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CTNM shares. Robert W. Baird assumed coverage on Contineum Therapeutics in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $32.00 price target on the stock. Baird R W upgraded Contineum Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 22nd. 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 research report on Thursday, November 7th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $29.25.

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).