Walleye Capital LLC Has $5.50 Million Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Walleye Capital LLC grew its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 253.6% during the third quarter, Holdings Channel.com reports. The firm owned 328,417 shares of the company’s stock after acquiring an additional 235,548 shares during the quarter. Walleye Capital LLC’s holdings in Cullinan Therapeutics were worth $5,498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C increased its holdings in Cullinan Therapeutics by 188.1% during the second 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 last quarter. Marshall Wace LLP increased its holdings in Cullinan Therapeutics by 2,416.9% during the second quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock worth $20,650,000 after buying an additional 1,136,993 shares during the last quarter. Perceptive Advisors LLC acquired a new position in Cullinan Therapeutics during the second quarter worth $13,079,000. Charles Schwab Investment Management Inc. increased its holdings in Cullinan Therapeutics by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company’s stock worth $7,097,000 after buying an additional 53,328 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Cullinan Therapeutics by 31.3% during the second quarter. Renaissance Technologies LLC now owns 421,708 shares of the company’s stock worth $7,355,000 after buying an additional 100,608 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CGEM has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Finally, UBS Group initiated coverage on shares of Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $31.67.

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00. Following the completion of the transaction, the insider now owns 107,942 shares of the company’s stock, valued at approximately $1,688,212.88. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.07% of the stock is owned by insiders.

Cullinan Therapeutics Stock Performance

Shares of Cullinan Therapeutics stock opened at $13.45 on Monday. The firm has a 50-day moving average of $15.57 and a 200-day moving average of $17.83. The stock has a market cap of $783.17 million, a PE ratio of -4.74 and a beta of -0.12. Cullinan Therapeutics, Inc. has a 52-week low of $7.64 and a 52-week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. Equities research analysts predict that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Cullinan Therapeutics Company 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.