683 Capital Management LLC Takes Position in Contineum Therapeutics, Inc. $CTNM

683 Capital Management LLC acquired a new stake in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 91,442 shares of the company’s stock, valued at approximately $1,045,000. 683 Capital Management LLC owned 0.31% of Contineum Therapeutics at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new position in Contineum Therapeutics in the 4th quarter worth $43,000. Strs Ohio bought a new position in Contineum Therapeutics in the 1st quarter worth $27,000. Bank of America Corp DE boosted its holdings in Contineum Therapeutics by 500.0% in the 3rd quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock worth $85,000 after buying an additional 6,030 shares during the period. Qube Research & Technologies Ltd bought a new position in Contineum Therapeutics in the 2nd quarter worth $43,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Contineum Therapeutics in the 4th quarter worth $130,000.

Contineum Therapeutics Trading Down 1.9%

Shares of NASDAQ CTNM opened at $12.16 on Thursday. The firm’s 50-day moving average price is $13.04 and its 200-day moving average price is $12.99. The stock has a market capitalization of $454.66 million, a price-to-earnings ratio of -6.24 and a beta of 0.89. Contineum Therapeutics, Inc. has a 12-month low of $3.57 and a 12-month high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last announced its earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.16. On average, equities analysts predict that Contineum Therapeutics, Inc. will post -1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CTNM has been the subject of several recent analyst reports. Robert W. Baird upped their target price on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Morgan Stanley boosted their price target on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.