Versant Venture Management LLC Has $2.15 Million Stock Holdings in Contineum Therapeutics, Inc. $CTNM

Versant Venture Management LLC decreased its position in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 40.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 542,628 shares of the company’s stock after selling 375,535 shares during the quarter. Contineum Therapeutics makes up approximately 2.6% of Versant Venture Management LLC’s portfolio, making the stock its 6th biggest position. Versant Venture Management LLC’s holdings in Contineum Therapeutics were worth $2,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CTNM. ADAR1 Capital Management LLC raised its holdings in shares of Contineum Therapeutics by 105.2% in the first quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock valued at $1,178,000 after acquiring an additional 86,531 shares in the last quarter. Monaco Asset Management SAM purchased a new position in Contineum Therapeutics during the 2nd quarter valued at about $298,000. Y Intercept Hong Kong Ltd purchased a new position in Contineum Therapeutics during the 2nd quarter valued at about $140,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Contineum Therapeutics in the 1st quarter valued at about $118,000. Finally, Nuveen LLC bought a new stake in shares of Contineum Therapeutics in the 1st quarter valued at about $93,000.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTNM. Morgan Stanley lifted their price objective on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Leerink Partnrs upgraded Contineum Therapeutics to a “strong-buy” rating in a report on Thursday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, October 8th. Finally, Leerink Partners began coverage on Contineum Therapeutics in a research report on Thursday, November 13th. They set an “outperform” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.60.

Contineum Therapeutics Trading Up 3.2%

Shares of CTNM stock opened at $11.51 on Wednesday. Contineum Therapeutics, Inc. has a 12-month low of $3.35 and a 12-month high of $16.25. The business’s fifty day simple moving average is $11.39 and its 200-day simple moving average is $7.68. The company has a market cap of $335.86 million, a PE ratio of -5.12 and a beta of 1.26.

Contineum Therapeutics (NASDAQ:CTNM) last announced its earnings results on Thursday, October 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.13. On average, equities analysts forecast that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current year.

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).