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

Contineum Therapeutics’ (NASDAQ:CTNM) lock-up period will 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. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

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

Contineum Therapeutics Price Performance

Shares of CTNM opened at $19.14 on Tuesday. Contineum Therapeutics has a one year low of $13.27 and a one year high of $22.00. The business has a fifty day moving average price of $18.73.

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

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new stake in Contineum Therapeutics during the 2nd quarter worth approximately $356,000. Rhumbline Advisers purchased a new stake in Contineum Therapeutics during the 2nd quarter valued at about $118,000. Versant Venture Management LLC purchased a new stake in Contineum Therapeutics in the 2nd quarter valued at $16,169,000. Johnson & Johnson acquired a new stake in Contineum Therapeutics during the second quarter worth about $34,853,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter worth approximately $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).