Y Intercept Hong Kong Ltd Has $425,000 Stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Y Intercept Hong Kong Ltd grew its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 40.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,369 shares of the company’s stock after purchasing an additional 7,343 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cullinan Therapeutics were worth $425,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CGEM. Deerfield Management Company L.P. Series C raised its position in Cullinan Therapeutics by 188.1% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company’s stock valued at $57,207,000 after purchasing an additional 2,141,706 shares in the last quarter. State Street Corp raised its holdings in shares of Cullinan Therapeutics by 20.4% during the 3rd quarter. State Street Corp now owns 2,337,222 shares of the company’s stock worth $39,125,000 after buying an additional 396,034 shares in the last quarter. RTW Investments LP lifted its position in shares of Cullinan Therapeutics by 62.1% during the 3rd quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock worth $28,558,000 after buying an additional 653,330 shares during the last quarter. Holocene Advisors LP boosted its stake in Cullinan Therapeutics by 16.5% in the third quarter. Holocene Advisors LP now owns 1,533,579 shares of the company’s stock valued at $25,672,000 after buying an additional 217,574 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Cullinan Therapeutics by 2,416.9% in the second quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after acquiring an additional 1,136,993 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Insider Transactions at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 3,489 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total transaction of $43,682.28. Following the completion of the sale, the insider now directly owns 104,453 shares in the company, valued at $1,307,751.56. This represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.07% of the stock is owned by corporate insiders.

Cullinan Therapeutics Price Performance

CGEM opened at $11.80 on Tuesday. The company’s 50 day moving average price is $14.66 and its two-hundred day moving average price is $16.93. The firm has a market capitalization of $687.09 million, a price-to-earnings ratio of -4.15 and a beta of -0.18. Cullinan Therapeutics, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. As a group, equities research analysts predict that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. UBS Group started coverage on shares of Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $31.67.

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.