Cullinan Therapeutics, Inc. $CGEM Position Increased by Elmind Capital LP

Elmind Capital LP raised its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 71.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 530,000 shares of the company’s stock after buying an additional 220,000 shares during the period. Cullinan Therapeutics makes up about 2.1% of Elmind Capital LP’s investment portfolio, making the stock its 15th largest holding. Elmind Capital LP’s holdings in Cullinan Therapeutics were worth $7,531,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CGEM. Affinity Asset Advisors LLC grew its holdings in shares of Cullinan Therapeutics by 632.4% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock worth $19,997,000 after acquiring an additional 1,668,289 shares during the last quarter. Lynx1 Capital Management LP boosted its position in shares of Cullinan Therapeutics by 31.0% in the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after purchasing an additional 1,365,248 shares during the period. Boothbay Fund Management LLC purchased a new position in Cullinan Therapeutics in the 4th quarter worth about $12,803,000. State Street Corp increased its stake in Cullinan Therapeutics by 31.0% in the 4th quarter. State Street Corp now owns 2,197,338 shares of the company’s stock worth $22,742,000 after purchasing an additional 520,024 shares in the last quarter. Finally, Caption Management LLC raised its holdings in Cullinan Therapeutics by 107.0% during the 3rd quarter. Caption Management LLC now owns 28,389 shares of the company’s stock worth $168,000 after buying an additional 435,062 shares during the period. 86.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 162,844 shares of the company’s stock, valued at approximately $2,901,880.08. The trade was a 4.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Cullinan Therapeutics Trading Up 1.9%

Shares of NASDAQ CGEM opened at $17.43 on Tuesday. Cullinan Therapeutics, Inc. has a one year low of $5.68 and a one year high of $19.43. The firm has a market capitalization of $1.07 billion, a PE ratio of -5.19 and a beta of -0.01. The business has a 50-day moving average price of $16.14 and a two-hundred day moving average price of $14.42.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.09. Research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current 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.