Y Intercept Hong Kong Ltd Takes $1.36 Million Position in Cullinan Therapeutics, Inc. $CGEM

Y Intercept Hong Kong Ltd acquired a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 95,417 shares of the company’s stock, valued at approximately $1,356,000. Y Intercept Hong Kong Ltd owned approximately 0.16% of Cullinan Therapeutics at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cullinan Therapeutics by 1.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,051 shares of the company’s stock valued at $497,000 after purchasing an additional 888 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after purchasing an additional 1,036 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Cullinan Therapeutics by 2.7% during the fourth quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company’s stock worth $489,000 after buying an additional 1,255 shares in the last quarter. CWM LLC lifted its position in Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after buying an additional 1,318 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Cullinan Therapeutics by 15.3% during the fourth quarter. ProShare Advisors LLC now owns 12,489 shares of the company’s stock worth $129,000 after buying an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM traded down $0.25 during mid-day trading on Friday, reaching $18.13. 684,715 shares of the company were exchanged, compared to its average volume of 1,187,043. Cullinan Therapeutics, Inc. has a 1 year low of $5.68 and a 1 year high of $19.43. The firm’s 50-day simple moving average is $15.61 and its 200 day simple moving average is $13.83. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -5.40 and a beta of -0.01.

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

Insider Transactions at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the firm’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 value of $142,560.00. Following the sale, the insider owned 162,844 shares of the company’s stock, valued at $2,901,880.08. This trade represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.