Franklin Resources Inc. Has $27.71 Million Position in Contineum Therapeutics, Inc. (NASDAQ:CTNM)

Franklin Resources Inc. raised its stake in Contineum Therapeutics, Inc. (NASDAQ:CTNM) by 130.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,447,550 shares of the company’s stock after acquiring an additional 820,542 shares during the period. Franklin Resources Inc. owned about 0.06% of Contineum Therapeutics worth $27,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CTNM. Johnson & Johnson bought a new stake in Contineum Therapeutics in the second quarter valued at approximately $34,853,000. Perceptive Advisors LLC bought a new position in Contineum Therapeutics during the 2nd quarter worth approximately $27,589,000. Versant Venture Management LLC acquired a new position in shares of Contineum Therapeutics in the 2nd quarter worth approximately $16,169,000. FMR LLC boosted its stake in shares of 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 purchasing an additional 373,327 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Contineum Therapeutics during the second quarter worth $2,642,000.

Contineum Therapeutics Stock Down 2.2 %

CTNM opened at $13.75 on Thursday. The company has a fifty day moving average price of $15.86 and a two-hundred day moving average price of $17.71. Contineum Therapeutics, Inc. has a 1-year low of $12.33 and a 1-year high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Wednesday, November 6th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. On average, equities analysts expect that Contineum Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

CTNM has been the topic of several recent analyst reports. Robert W. Baird started coverage on shares of Contineum Therapeutics in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $32.00 target price on the stock. Royal Bank of Canada dropped their price objective on Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Baird R W raised Contineum Therapeutics to a “strong-buy” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $29.25.

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).