Cullinan Therapeutics, Inc. $CGEM Position Boosted by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP increased its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,510,972 shares of the company’s stock after acquiring an additional 125,000 shares during the quarter. Cullinan Therapeutics comprises approximately 4.6% of Blue Owl Capital Holdings LP’s portfolio, making the stock its 8th biggest position. Blue Owl Capital Holdings LP’s holdings in Cullinan Therapeutics were worth $14,890,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CGEM. Dynamic Technology Lab Private Ltd purchased a new position in Cullinan Therapeutics during the 1st quarter valued at $163,000. Jane Street Group LLC lifted its position in shares of Cullinan Therapeutics by 145.9% in the 1st quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock worth $260,000 after purchasing an additional 109,413 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Cullinan Therapeutics during the 1st quarter valued at about $618,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Cullinan Therapeutics during the second quarter valued at about $84,000. Finally, Geode Capital Management LLC raised its stake in Cullinan Therapeutics by 3.0% in the second quarter. Geode Capital Management LLC now owns 1,279,496 shares of the company’s stock worth $9,636,000 after buying an additional 37,679 shares in the last quarter. Institutional investors own 86.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CGEM shares. Morgan Stanley restated an “overweight” rating and issued a $30.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, January 8th. Citigroup started coverage on Cullinan Therapeutics in a research report on Tuesday, February 17th. They issued a “buy” rating and a $33.00 target price for the company. HC Wainwright increased their target price on Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Wedbush raised their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Finally, Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.33.

Insiders Place Their Bets

In other news, CEO Nadim Ahmed sold 13,515 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $14.47, for a total transaction of $195,562.05. Following the completion of the transaction, the chief executive officer directly owned 390,803 shares in the company, valued at approximately $5,654,919.41. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mary Kay Fenton sold 4,398 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $13.62, for a total value of $59,900.76. Following the completion of the sale, the chief financial officer directly owned 126,380 shares in the company, valued at approximately $1,721,295.60. This represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 99,912 shares of company stock valued at $1,294,801. Insiders own 7.16% of the company’s stock.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $15.74 on Friday. Cullinan Therapeutics, Inc. has a 1 year low of $5.68 and a 1 year high of $16.74. The firm has a market cap of $929.92 million, a price-to-earnings ratio of -4.76 and a beta of -0.15. The company has a 50-day moving average of $12.28 and a 200 day moving average of $9.69.

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.