ADAR1 Capital Management LLC Raises Stock Position in Contineum Therapeutics, Inc. (NASDAQ:CTNM)

ADAR1 Capital Management LLC boosted its stake in Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 817.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,234 shares of the company’s stock after purchasing an additional 73,267 shares during the period. ADAR1 Capital Management LLC owned approximately 0.32% of Contineum Therapeutics worth $1,205,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Corebridge Financial Inc. boosted its holdings in Contineum Therapeutics by 73.1% in the 4th quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock worth $76,000 after acquiring an additional 2,202 shares during the period. Rhumbline Advisers grew its holdings in Contineum Therapeutics by 36.3% during the 4th quarter. Rhumbline Advisers now owns 8,233 shares of the company’s stock valued at $121,000 after purchasing an additional 2,191 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Contineum Therapeutics by 1,248.6% during the third quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock valued at $129,000 after acquiring an additional 6,243 shares in the last quarter. Barclays PLC raised its position in shares of Contineum Therapeutics by 248.6% in the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock valued at $158,000 after purchasing an additional 5,925 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Contineum Therapeutics by 419.3% during the fourth quarter. Wells Fargo & Company MN now owns 10,755 shares of the company’s stock worth $158,000 after buying an additional 8,684 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CTNM shares. Morgan Stanley reissued an “overweight” rating and set a $25.00 price target on shares of Contineum Therapeutics in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Contineum Therapeutics in a report on Thursday, January 9th. Jones Trading initiated coverage on shares of Contineum Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Robert W. Baird decreased their target price on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Contineum Therapeutics has an average rating of “Buy” and an average target price of $24.80.

Contineum Therapeutics Price Performance

Shares of NASDAQ:CTNM opened at $5.80 on Monday. Contineum Therapeutics, Inc. has a 12 month low of $5.25 and a 12 month high of $22.00. The stock has a market cap of $150.06 million and a price-to-earnings ratio of -1.18. The stock’s 50 day moving average price is $7.73 and its 200 day moving average price is $12.78.

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).