Cullinan Therapeutics, Inc. $CGEM Shares Sold by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP cut its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 6.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,350,972 shares of the company’s stock after selling 160,000 shares during the quarter. Cullinan Therapeutics comprises approximately 1.8% of Blue Owl Capital Holdings LP’s investment portfolio, making the stock its 6th biggest position. Blue Owl Capital Holdings LP’s holdings in Cullinan Therapeutics were worth $24,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after acquiring an additional 1,318 shares in the last quarter. Signaturefd LLC raised its holdings in Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after acquiring an additional 3,607 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Cullinan Therapeutics by 44.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after acquiring an additional 2,523 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Cullinan Therapeutics by 29.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,909 shares of the company’s stock valued at $103,000 after acquiring an additional 2,268 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in Cullinan Therapeutics in the 4th quarter valued at $104,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CGEM. BTIG Research reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cullinan Therapeutics in a report on Tuesday, May 19th. HC Wainwright lifted their price objective on Cullinan Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wedbush lifted their price objective on Cullinan Therapeutics from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Insider Transactions at Cullinan Therapeutics

In related news, CEO Nadim Ahmed sold 13,515 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 390,803 shares in the company, valued at $5,654,919.41. The trade was a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.62, for a total value of $116,960.00. Following the sale, the insider owned 166,844 shares in the company, valued at $2,439,259.28. This represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 43,079 shares of company stock worth $633,646. 8.60% of the stock is currently owned by insiders.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $13.84 on Monday. Cullinan Therapeutics, Inc. has a 52-week low of $5.68 and a 52-week high of $16.74. The business’s fifty day moving average is $14.19 and its 200-day moving average is $12.37. The firm has a market cap of $850.61 million, a price-to-earnings ratio of -4.12 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.09. As a group, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.07 EPS for the current fiscal year.

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.