Holocene Advisors LP increased its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 16.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,533,579 shares of the company's stock after buying an additional 217,574 shares during the period. Holocene Advisors LP owned about 2.63% of Cullinan Therapeutics worth $25,672,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Deerfield Management Company L.P. Series C boosted its holdings in Cullinan Therapeutics by 188.1% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company's stock worth $57,207,000 after buying an additional 2,141,706 shares during the period. Marshall Wace LLP lifted its stake in Cullinan Therapeutics by 2,416.9% in the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company's stock worth $20,650,000 after purchasing an additional 1,136,993 shares in the last quarter. Braidwell LP lifted its stake in Cullinan Therapeutics by 567.6% in the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company's stock worth $19,689,000 after purchasing an additional 1,000,000 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in Cullinan Therapeutics in the 2nd quarter worth $13,079,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cullinan Therapeutics by 14.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company's stock worth $7,097,000 after purchasing an additional 53,328 shares in the last quarter. Institutional investors own 86.31% of the company's stock.
Cullinan Therapeutics Price Performance
Shares of NASDAQ CGEM traded down $0.42 during mid-day trading on Tuesday, hitting $12.75. 600,845 shares of the company's stock traded hands, compared to its average volume of 650,260. The company's 50-day moving average is $15.50 and its two-hundred day moving average is $17.69. The company has a market capitalization of $742.43 million, a P/E ratio of -4.46 and a beta of -0.17. Cullinan Therapeutics, Inc. has a 1 year low of $7.64 and a 1 year high of $30.19.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.09. Equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have commented on CGEM shares. Wedbush reiterated an "outperform" rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Finally, UBS Group started coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a "buy" rating and a $30.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $31.67.
Read Our Latest Stock Analysis on CGEM
Insider Buying and Selling
In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $15.64, for a total value of $125,120.00. Following the transaction, the insider now directly owns 107,942 shares in the company, valued at $1,688,212.88. This represents a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.07% of the stock is currently owned by corporate insiders.
Cullinan Therapeutics Profile
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Free Report)
Cullinan Therapeutics, Inc, a biopharmaceutical company, focuses on developing oncology therapies for cancer patients in the United States. The company's lead program comprises CLN-619, a monoclonal antibody that is in Phase I clinical trial for the treatment of solid tumors. Its development portfolio also includes CLN-049, a humanized bispecific antibody that is in Phase I clinical trial for the treatment of acute myeloid leukemia or myelodysplastic syndrome; CLN-418, a human bispecific immune activator that is in Phase 1 clinical trial for the treatment of multiple solid tumors; and Zipalertinib, a bioavailable small-molecule for treating patients with non-small cell lung cancer.
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