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

AXQ Capital LP purchased a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 32,669 shares of the company’s stock, valued at approximately $194,000.

Several other large investors also recently modified their holdings of the company. AlphaQuest LLC increased its position in Cullinan Therapeutics by 177.3% during the third quarter. AlphaQuest LLC now owns 29,019 shares of the company’s stock valued at $172,000 after acquiring an additional 18,555 shares during the last quarter. Inscription Capital LLC bought a new stake in shares of Cullinan Therapeutics during the 3rd quarter valued at about $67,000. Compass Ion Advisors LLC bought a new stake in shares of Cullinan Therapeutics during the 3rd quarter valued at about $82,000. SG Americas Securities LLC purchased a new stake in shares of Cullinan Therapeutics during the 3rd quarter valued at about $62,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of 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 purchasing an additional 167,623 shares during the period. Institutional investors own 86.31% of the company’s stock.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jeffrey Alan Jones sold 4,582 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 $66,301.54. Following the sale, the insider owned 159,968 shares of the company’s stock, valued at approximately $2,314,736.96. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nadim Ahmed sold 13,515 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $14.47, for a total value 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 represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 99,912 shares of company stock valued at $1,294,801. 7.16% of the stock is currently owned by corporate insiders.

Cullinan Therapeutics Price Performance

Shares of CGEM stock opened at $15.50 on Friday. Cullinan Therapeutics, Inc. has a one year low of $5.68 and a one year high of $16.74. The company’s fifty day moving average price is $11.72 and its 200-day moving average price is $9.41. The company has a market capitalization of $915.68 million, a price-to-earnings ratio of -4.68 and a beta of -0.09.

Analyst Ratings Changes

Several brokerages recently issued reports on CGEM. Citigroup assumed coverage on shares of Cullinan Therapeutics in a research report on Tuesday, February 17th. They set a “buy” rating and a $33.00 target price for the company. New Street Research set a $26.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. Morgan Stanley restated an “overweight” rating and issued a $30.00 price objective on shares of Cullinan Therapeutics in a research note on Thursday, January 8th. Zacks Research cut Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.33.

Cullinan Therapeutics Company 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.