Y Intercept Hong Kong Ltd Has $425,000 Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Y Intercept Hong Kong Ltd increased its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 40.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,369 shares of the company’s stock after purchasing an additional 7,343 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cullinan Therapeutics were worth $425,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Cullinan Therapeutics by 47.1% during the 3rd quarter. Wellington Management Group LLP now owns 106,025 shares of the company’s stock worth $1,775,000 after purchasing an additional 33,927 shares during the last quarter. Sphera Funds Management LTD. acquired a new position in Cullinan Therapeutics during the third quarter worth $3,111,000. State Street Corp raised its position in Cullinan Therapeutics by 20.4% during the third quarter. State Street Corp now owns 2,337,222 shares of the company’s stock worth $39,125,000 after acquiring an additional 396,034 shares in the last quarter. RTW Investments LP lifted its stake in Cullinan Therapeutics by 62.1% in the third quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock valued at $28,558,000 after acquiring an additional 653,330 shares during the last quarter. Finally, Patient Square Capital LP bought a new position in shares of Cullinan Therapeutics in the 3rd quarter valued at about $13,806,000. Institutional investors own 86.31% of the company’s stock.

Wall Street Analyst Weigh In

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

Cullinan Therapeutics Trading Up 0.4 %

Cullinan Therapeutics stock opened at $11.80 on Tuesday. The company has a market capitalization of $687.09 million, a price-to-earnings ratio of -4.15 and a beta of -0.18. The stock’s 50 day moving average is $14.66 and its 200-day moving average is $16.93. Cullinan Therapeutics, Inc. has a 12 month low of $8.02 and a 12 month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.09. As a group, equities research analysts predict that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Michaelson sold 3,489 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28. Following the sale, the insider now owns 104,453 shares of the company’s stock, valued at $1,307,751.56. This represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.07% of the stock is owned by insiders.

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.