Contineum Therapeutics, Inc.’s Lock-Up Period Set 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 IPO on April 5th. The total size of the offering was $110,000,000 based on an initial share price of $16.00. After the end of Contineum Therapeutics’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted their price target on shares of Contineum Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th.

Contineum Therapeutics Stock Down 2.3 %

Shares of NASDAQ:CTNM opened at $18.70 on Wednesday. The stock has a fifty day moving average of $18.63. Contineum Therapeutics has a 52-week low of $13.27 and a 52-week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.02). Sell-side analysts predict that Contineum Therapeutics will post -2.04 EPS for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in Contineum Therapeutics in the second quarter worth about $356,000. Rhumbline Advisers bought a new position in shares of Contineum Therapeutics during the second quarter valued at approximately $118,000. Versant Venture Management LLC bought a new position in shares of Contineum Therapeutics during the second quarter valued at approximately $16,169,000. Johnson & Johnson bought a new position in shares of Contineum Therapeutics during the second quarter valued at approximately $34,853,000. Finally, Sandia Investment Management LP bought a new position in shares of Contineum Therapeutics during the second quarter valued at approximately $88,000.

About Contineum Therapeutics

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).