Holocene Advisors LP Grows Stock Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Holocene Advisors LP grew its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 16.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,533,579 shares of the company’s stock after buying an additional 217,574 shares during the quarter. Holocene Advisors LP’s holdings in Cullinan Therapeutics were worth $25,672,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC raised its position in Cullinan Therapeutics by 757.2% during the second quarter. SG Americas Securities LLC now owns 85,172 shares of the company’s stock valued at $1,485,000 after acquiring an additional 75,236 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Cullinan Therapeutics by 2,416.9% during 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 during the period. E Fund Management Co. Ltd. purchased a new position in shares of Cullinan Therapeutics during the 2nd quarter valued at approximately $1,305,000. Braidwell LP lifted its stake in shares of Cullinan Therapeutics by 567.6% in the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock valued at $19,689,000 after purchasing an additional 1,000,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Cullinan Therapeutics by 46.4% during the second quarter. Bank of New York Mellon Corp now owns 137,997 shares of the company’s stock worth $2,407,000 after buying an additional 43,757 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Insider Activity

In other news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $18.09, for a total value of $144,720.00. Following the completion of the sale, the insider now directly owns 115,942 shares in the company, valued at $2,097,390.78. This represents a 6.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cullinan Therapeutics Stock Down 2.1 %

CGEM opened at $13.17 on Tuesday. The company has a market cap of $766.86 million, a price-to-earnings ratio of -4.74 and a beta of -0.12. The firm’s fifty day simple moving average is $15.57 and its two-hundred day simple moving average is $17.76. Cullinan Therapeutics, Inc. has a 52-week low of $7.64 and a 52-week high of $30.19.

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

About Cullinan Therapeutics

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.