Bank of New York Mellon Corp Purchases 4,573 Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Bank of New York Mellon Corp grew its position in Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 32.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,738 shares of the company’s stock after buying an additional 4,573 shares during the period. Bank of New York Mellon Corp’s holdings in Contineum Therapeutics were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets lifted 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 purchasing an additional 6,243 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Contineum Therapeutics by 36.3% in the fourth quarter. Rhumbline Advisers now owns 8,233 shares of the company’s stock valued at $121,000 after buying an additional 2,191 shares during the last quarter. Barclays PLC boosted its stake in shares of Contineum Therapeutics by 248.6% during the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock worth $158,000 after acquiring an additional 5,925 shares during the period. State Street Corp increased its holdings in shares of Contineum Therapeutics by 23.7% during the 3rd quarter. State Street Corp now owns 113,566 shares of the company’s stock worth $2,174,000 after acquiring an additional 21,760 shares during the last quarter. Finally, FMR LLC raised its stake in Contineum Therapeutics by 115.4% in the 3rd quarter. FMR LLC now owns 696,927 shares of the company’s stock valued at $13,339,000 after acquiring an additional 373,327 shares during the period.

Contineum Therapeutics Stock Performance

CTNM stock opened at $7.07 on Friday. Contineum Therapeutics, Inc. has a 52 week low of $5.92 and a 52 week high of $22.00. The company has a market capitalization of $182.92 million and a PE ratio of -1.44. The company’s 50-day simple moving average is $8.23 and its 200 day simple moving average is $13.24.

Wall Street Analyst Weigh In

CTNM has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, January 9th. Jones Trading initiated coverage on shares of Contineum Therapeutics in a report on Thursday, March 13th. They set a “buy” rating and a $23.00 target price for the company. Robert W. Baird decreased their price target on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $25.00 price objective on shares of Contineum Therapeutics in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Contineum Therapeutics currently has an average rating of “Buy” and an average price target of $24.80.

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).