Y Intercept Hong Kong Ltd Makes New $1.36 Million Investment in Cullinan Therapeutics, Inc. $CGEM

Y Intercept Hong Kong Ltd acquired a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 95,417 shares of the company’s stock, valued at approximately $1,356,000.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its stake in Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after acquiring an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP acquired a new position in Cullinan Therapeutics in the fourth quarter valued at $31,000. CWM LLC boosted its stake in Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after acquiring an additional 1,318 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Cullinan Therapeutics by 689.7% during the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after purchasing an additional 3,607 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after purchasing an additional 2,523 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $17.82, for a total transaction of $142,560.00. Following the completion of the transaction, the insider owned 162,844 shares in the company, valued at approximately $2,901,880.08. This represents a 4.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CGEM. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a report on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Wednesday. BTIG Research reaffirmed a “buy” rating and set a $38.00 price target on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th. Wall Street Zen upgraded Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Wedbush reissued an “outperform” rating and issued a $37.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, June 11th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Cullinan Therapeutics Trading Down 1.4%

Shares of CGEM traded down $0.25 during mid-day trading on Friday, hitting $18.13. 684,715 shares of the company’s stock were exchanged, compared to its average volume of 1,187,043. Cullinan Therapeutics, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $19.43. The firm has a market capitalization of $1.11 billion, a P/E ratio of -5.40 and a beta of -0.01. The business’s 50 day moving average is $15.61 and its two-hundred day moving average is $13.83.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.09. On average, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.06 earnings per share for the current 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.