Contineum Therapeutics, Inc.’s Lock-Up Period To End on October 2nd (NASDAQ:CTNM)

Contineum Therapeutics’ (NASDAQ:CTNM) lock-up period will end on Wednesday, October 2nd. Contineum Therapeutics had issued 6,875,000 shares in its initial public offering on April 5th. The total size of the offering was $110,000,000 based on an initial share price of $16.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upped their price target 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 Trading Up 0.9 %

Shares of NASDAQ:CTNM opened at $18.84 on Friday. The company has a fifty day moving average of $18.73. Contineum Therapeutics has a fifty-two week low of $13.27 and a fifty-two week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last announced 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). As a group, research analysts predict that Contineum Therapeutics will post -2.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Venture Management LLC bought a new position in shares of Contineum Therapeutics in the second quarter valued at about $16,169,000. Johnson & Johnson acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $34,853,000. Bank of New York Mellon Corp acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $356,000. Sandia Investment Management LP acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $88,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Contineum Therapeutics during the second quarter worth approximately $2,642,000.

Contineum Therapeutics Company 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).