Perceptive Advisors LLC Acquires New Shares in Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Perceptive Advisors LLC purchased a new stake in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,566,668 shares of the company’s stock, valued at approximately $27,589,000. Perceptive Advisors LLC owned about 0.06% of Contineum Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of CTNM. Sandia Investment Management LP bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth about $88,000. Rhumbline Advisers bought a new stake in Contineum Therapeutics in the second quarter worth about $118,000. Bank of New York Mellon Corp bought a new stake in Contineum Therapeutics during the second quarter worth approximately $356,000. Driehaus Capital Management LLC bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth $1,174,000. Finally, Squarepoint Ops LLC purchased a new position in Contineum Therapeutics in the 2nd quarter worth about $2,642,000.

Contineum Therapeutics Trading Up 0.9 %

Shares of Contineum Therapeutics stock opened at $18.84 on Monday. Contineum Therapeutics, Inc. has a twelve month low of $13.27 and a twelve month high of $22.00. The company’s 50-day simple moving average is $18.73.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.02). Research analysts forecast that Contineum Therapeutics, Inc. will post -2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Contineum Therapeutics 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).