AXQ Capital LP Purchases Shares of 32,669 Cullinan Therapeutics, Inc. $CGEM

AXQ Capital LP purchased a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 32,669 shares of the company’s stock, valued at approximately $194,000. AXQ Capital LP owned about 0.06% of Cullinan Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in Cullinan Therapeutics by 1,665.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,685 shares of the company’s stock worth $1,054,000 after buying an additional 167,623 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at $84,000. Voss Capital LP lifted its holdings in shares of Cullinan Therapeutics by 43.8% during the 2nd quarter. Voss Capital LP now owns 251,717 shares of the company’s stock worth $1,895,000 after acquiring an additional 76,717 shares during the last quarter. Franklin Resources Inc. grew its position in Cullinan Therapeutics by 0.4% in the second quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock worth $16,778,000 after acquiring an additional 8,399 shares in the last quarter. Finally, Corton Capital Inc. grew its position in Cullinan Therapeutics by 28.9% in the second quarter. Corton Capital Inc. now owns 21,712 shares of the company’s stock worth $163,000 after acquiring an additional 4,870 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Up 1.9%

CGEM opened at $15.50 on Friday. Cullinan Therapeutics, Inc. has a 52 week low of $5.68 and a 52 week high of $16.74. The stock has a market cap of $915.68 million, a PE ratio of -4.68 and a beta of -0.09. The business has a 50 day moving average of $11.72 and a 200-day moving average of $9.41.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jacquelyn L. Sumer sold 3,601 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $14.47, for a total transaction of $52,106.47. Following the transaction, the insider owned 128,089 shares in the company, valued at approximately $1,853,447.83. This represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nadim Ahmed sold 13,515 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $14.47, for a total transaction of $195,562.05. Following the completion of the sale, the chief executive officer owned 390,803 shares of the company’s stock, valued at $5,654,919.41. This represents a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 99,912 shares of company stock worth $1,294,801 over the last three months. Corporate insiders own 7.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CGEM shares. Morgan Stanley restated an “overweight” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, January 8th. Wedbush raised their price objective on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. BTIG Research boosted their target price on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Wall Street Zen cut shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th. Finally, Guggenheim began coverage on shares of Cullinan Therapeutics in a research note on Monday, February 2nd. They set a “buy” rating and a $30.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.33.

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.