Patient Square Capital LP Has $10.71 Million Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Patient Square Capital LP grew its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 878,897 shares of the company’s stock after buying an additional 54,192 shares during the quarter. Cullinan Therapeutics accounts for about 4.0% of Patient Square Capital LP’s investment portfolio, making the stock its 4th biggest position. Patient Square Capital LP owned 1.51% of Cullinan Therapeutics worth $10,705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC lifted its position in shares of Cullinan Therapeutics by 26.0% during the third quarter. Barclays PLC now owns 248,614 shares of the company’s stock worth $4,161,000 after purchasing an additional 51,300 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Cullinan Therapeutics by 25.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock worth $487,000 after acquiring an additional 5,842 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Cullinan Therapeutics by 43.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock worth $374,000 after acquiring an additional 9,385 shares during the period. SG Americas Securities LLC raised its stake in shares of Cullinan Therapeutics by 54.1% during the fourth quarter. SG Americas Securities LLC now owns 23,201 shares of the company’s stock valued at $283,000 after acquiring an additional 8,144 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Cullinan Therapeutics during the 4th quarter worth $136,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Trading Down 3.7%

Shares of NASDAQ CGEM opened at $7.62 on Wednesday. Cullinan Therapeutics, Inc. has a 12-month low of $6.85 and a 12-month high of $28.11. The stock’s fifty day simple moving average is $8.08 and its two-hundred day simple moving average is $10.51. The stock has a market capitalization of $449.69 million, a PE ratio of -2.68 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. On average, equities analysts predict that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. Finally, HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.00.

Insider Buying and Selling at Cullinan Therapeutics

In related news, CEO Nadim Ahmed sold 12,529 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the transaction, the chief executive officer now directly owns 430,621 shares in the company, valued at $3,673,197.13. The trade was a 2.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $41,754.35. Following the transaction, the insider now directly owns 174,164 shares in the company, valued at $1,485,618.92. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.16% of the stock is owned by insiders.

Cullinan Therapeutics 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.