Suvretta Capital Management LLC Has $32.92 Million Stock Position in Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Suvretta Capital Management LLC reduced its holdings in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 16.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,720,000 shares of the company’s stock after selling 333,334 shares during the quarter. Suvretta Capital Management LLC owned approximately 0.07% of Contineum Therapeutics worth $32,921,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Johnson & Johnson acquired a new position in shares of Contineum Therapeutics during the 2nd quarter worth about $34,853,000. Perceptive Advisors LLC acquired a new position in Contineum Therapeutics during the second quarter valued at approximately $27,589,000. Versant Venture Management LLC acquired a new position in Contineum Therapeutics during the second quarter valued at approximately $16,169,000. FMR LLC grew its stake in Contineum Therapeutics by 115.4% in the third quarter. FMR LLC now owns 696,927 shares of the company’s stock valued at $13,339,000 after purchasing an additional 373,327 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Contineum Therapeutics during the 2nd quarter worth approximately $2,642,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTNM. Baird R W raised shares of Contineum Therapeutics to a “strong-buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird assumed coverage on shares of Contineum Therapeutics in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price on shares of Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Contineum Therapeutics presently has an average rating of “Buy” and a consensus target price of $29.25.

Contineum Therapeutics Stock Up 1.7 %

CTNM stock opened at $14.77 on Friday. The company has a fifty day moving average price of $16.94 and a two-hundred day moving average price of $17.82. Contineum Therapeutics, Inc. has a one year low of $12.33 and a one year high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.01. Research analysts forecast that Contineum Therapeutics, Inc. will post -2.01 EPS for the current year.

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).