Norges Bank Acquires Shares of 169,729 Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Norges Bank bought a new stake in Contineum Therapeutics, Inc. (NASDAQ:CTNM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 169,729 shares of the company’s stock, valued at approximately $2,487,000. Norges Bank owned 0.66% of Contineum Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CTNM. Rhumbline Advisers lifted its holdings in Contineum Therapeutics by 36.3% during the fourth quarter. Rhumbline Advisers now owns 8,233 shares of the company’s stock valued at $121,000 after purchasing an additional 2,191 shares during the last quarter. Corebridge Financial Inc. raised its position in shares of Contineum Therapeutics by 73.1% in the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock valued at $76,000 after purchasing an additional 2,202 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Contineum Therapeutics by 32.3% during the 4th quarter. Bank of New York Mellon Corp now owns 18,738 shares of the company’s stock valued at $275,000 after buying an additional 4,573 shares in the last quarter. Barclays PLC boosted its holdings in Contineum Therapeutics by 248.6% in the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock worth $158,000 after buying an additional 5,925 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Contineum Therapeutics by 1,248.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock valued at $129,000 after buying an additional 6,243 shares in the last quarter.

Contineum Therapeutics Trading Down 2.9 %

Shares of NASDAQ CTNM opened at $4.01 on Friday. The business has a 50-day moving average of $6.97 and a 200-day moving average of $12.16. The firm has a market capitalization of $103.75 million and a price-to-earnings ratio of -0.82. Contineum Therapeutics, Inc. has a 12 month low of $3.91 and a 12 month high of $22.00.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their target price on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Jones Trading began coverage on Contineum Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $23.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $25.00 price target on shares of Contineum Therapeutics in a research report on Friday, March 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, January 9th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $24.80.

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).