918,163 Shares in Contineum Therapeutics, Inc. (NASDAQ:CTNM) Acquired by Versant Venture Management LLC

Versant Venture Management LLC purchased a new position in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 918,163 shares of the company’s stock, valued at approximately $16,169,000. Contineum Therapeutics makes up approximately 20.9% of Versant Venture Management LLC’s portfolio, making the stock its 2nd largest position.

Separately, Bank of New York Mellon Corp acquired a new position in shares of Contineum Therapeutics in the 2nd quarter valued at approximately $356,000.

Contineum Therapeutics Stock Up 3.3 %

Shares of NASDAQ CTNM opened at $18.02 on Wednesday. Contineum Therapeutics, Inc. has a twelve month low of $13.27 and a twelve month high of $22.00. The firm has a 50 day moving average price of $19.23.

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

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their target price on Contineum Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a research report 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).