Ieq Capital LLC purchased a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 33,720 shares of the company’s stock, valued at approximately $614,000.
Several other institutional investors have also modified their holdings of CGEM. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cullinan Therapeutics in the first quarter valued at approximately $163,000. Jane Street Group LLC raised its holdings in shares of Cullinan Therapeutics by 145.9% during the first quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock valued at $260,000 after buying an additional 109,413 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Cullinan Therapeutics during the first quarter worth approximately $618,000. Creative Planning boosted its position in shares of Cullinan Therapeutics by 222.2% during the second quarter. Creative Planning now owns 41,723 shares of the company’s stock worth $314,000 after buying an additional 28,773 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Cullinan Therapeutics by 122.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 97,069 shares of the company’s stock worth $731,000 after buying an additional 53,522 shares in the last quarter. Institutional investors own 86.31% of the company’s stock.
Insider Buying and Selling at Cullinan Therapeutics
In other news, insider Jennifer Michaelson sold 30,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the completion of the sale, the insider owned 162,844 shares in the company, valued at $3,299,219.44. This represents a 15.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 8.60% of the stock is currently owned by company insiders.
Cullinan Therapeutics Price Performance
Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). On average, sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.08 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently commented on CGEM shares. BTIG Research raised their target price on Cullinan Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a research note on Monday, August 17th. Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, TD Cowen upgraded shares of Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.86.
View Our Latest Research Report on Cullinan Therapeutics
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.
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