Boothbay Fund Management LLC Takes Position in Cullinan Therapeutics, Inc. $CGEM

Boothbay Fund Management LLC purchased a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,237,043 shares of the company’s stock, valued at approximately $12,803,000. Boothbay Fund Management LLC owned about 2.09% of Cullinan Therapeutics as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Owl Capital Holdings LP grew its holdings in shares of Cullinan Therapeutics by 5.2% during the third quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company’s stock valued at $14,890,000 after buying an additional 125,000 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Cullinan Therapeutics during the third quarter valued at approximately $194,000. UBS Group AG grew its holdings in shares of Cullinan Therapeutics by 44.4% during the fourth quarter. UBS Group AG now owns 271,736 shares of the company’s stock valued at $2,812,000 after buying an additional 83,551 shares during the last quarter. Tema Etfs LLC purchased a new stake in shares of Cullinan Therapeutics during the fourth quarter valued at approximately $383,000. Finally, Rafferty Asset Management LLC grew its holdings in shares of Cullinan Therapeutics by 3.8% during the third quarter. Rafferty Asset Management LLC now owns 40,729 shares of the company’s stock valued at $242,000 after buying an additional 1,503 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CGEM. Wedbush reiterated an “outperform” rating and set a $37.00 price target on shares of Cullinan Therapeutics in a report on Thursday, June 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Friday, April 10th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a report on Monday, June 8th. Zacks Research cut shares of Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday. Six equities research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $14.62, for a total transaction of $116,960.00. Following the transaction, the insider owned 166,844 shares in the company, valued at $2,439,259.28. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Cullinan Therapeutics Trading Up 6.6%

Shares of CGEM stock opened at $14.44 on Thursday. Cullinan Therapeutics, Inc. has a 12-month low of $5.68 and a 12-month high of $16.74. The firm’s 50 day moving average is $14.42 and its 200 day moving average is $13.05. The stock has a market capitalization of $887.48 million, a P/E ratio of -4.30 and a beta of -0.01.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.09. As a group, equities analysts predict that Cullinan Therapeutics, Inc. will post -3.06 earnings per share for the current year.

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.