Contineum Therapeutics, Inc. $CTNM Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its position in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 171.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 150,797 shares of the company’s stock after buying an additional 95,188 shares during the period. Wellington Management Group LLP’s holdings in Contineum Therapeutics were worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in Contineum Therapeutics during the first quarter worth $118,000. Strs Ohio purchased a new position in Contineum Therapeutics in the first quarter valued at $27,000. Norges Bank purchased a new position in Contineum Therapeutics in the second quarter valued at $674,000. Qube Research & Technologies Ltd purchased a new position in Contineum Therapeutics in the second quarter valued at $43,000. Finally, Jane Street Group LLC acquired a new position in shares of Contineum Therapeutics in the second quarter worth about $81,000.

Contineum Therapeutics Stock Down 3.2%

CTNM opened at $14.66 on Friday. The company has a market cap of $551.51 million, a price-to-earnings ratio of -8.47 and a beta of 0.75. Contineum Therapeutics, Inc. has a 52-week low of $8.60 and a 52-week high of $17.78. The firm’s fifty day simple moving average is $15.38 and its two-hundred day simple moving average is $14.06.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. On average, research analysts forecast that Contineum Therapeutics, Inc. will post -1.68 EPS for the current year.

Analysts Set New Price Targets

CTNM has been the topic of several recent analyst reports. Royal Bank Of Canada increased their target price on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Morgan Stanley raised their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.25.

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). 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.