Voss Capital LP Purchases New Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Voss Capital LP acquired a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 122,361 shares of the company's stock, valued at approximately $1,490,000. Voss Capital LP owned 0.21% of Cullinan Therapeutics at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of Cullinan Therapeutics by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 2,199,709 shares of the company's stock valued at $26,792,000 after purchasing an additional 8,447 shares during the period. Alliancebernstein L.P. boosted its stake in Cullinan Therapeutics by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 2,011,525 shares of the company's stock valued at $24,500,000 after buying an additional 157,115 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cullinan Therapeutics by 28.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,318,372 shares of the company's stock worth $16,058,000 after acquiring an additional 295,467 shares during the period. Geode Capital Management LLC raised its position in Cullinan Therapeutics by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,214,641 shares of the company's stock worth $14,798,000 after acquiring an additional 6,220 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cullinan Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 430,971 shares of the company's stock valued at $5,249,000 after acquiring an additional 7,012 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CGEM shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. HC Wainwright restated a "buy" rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $34.80.

Insider Activity

In related news, CEO Nadim Ahmed sold 12,529 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the sale, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. This trade represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Alan Jones sold 4,895 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $41,754.35. Following the completion of the transaction, the insider now owns 174,164 shares in the company, valued at approximately $1,485,618.92. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. 6.07% of the stock is currently owned by corporate insiders.

Cullinan Therapeutics Stock Down 2.9 %

Shares of Cullinan Therapeutics stock traded down $0.24 during trading on Thursday, hitting $8.14. The stock had a trading volume of 218,450 shares, compared to its average volume of 641,325. Cullinan Therapeutics, Inc. has a 1 year low of $6.85 and a 1 year high of $30.19. The stock has a 50 day simple moving average of $8.25 and a 200 day simple moving average of $11.29. The company has a market capitalization of $476.30 million, a PE ratio of -2.87 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.02. As a group, equities analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Cullinan Therapeutics Profile

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.