Braidwell LP Has $19.69 Million Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

by · The Markets Daily

Braidwell LP boosted its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Free Report) by 567.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,176,173 shares of the company’s stock after purchasing an additional 1,000,000 shares during the period. Braidwell LP’s holdings in Cullinan Therapeutics were worth $19,689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGEM. Verition Fund Management LLC bought a new stake in Cullinan Therapeutics during the third quarter worth about $613,000. Walleye Capital LLC grew its position in shares of Cullinan Therapeutics by 253.6% in the third quarter. Walleye Capital LLC now owns 328,417 shares of the company’s stock valued at $5,498,000 after purchasing an additional 235,548 shares during the last quarter. Martingale Asset Management L P grew its position in Cullinan Therapeutics by 134.2% during the third quarter. Martingale Asset Management L P now owns 32,842 shares of the company’s stock worth $550,000 after buying an additional 18,820 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cullinan Therapeutics by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock worth $1,187,000 after buying an additional 2,377 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Cullinan Therapeutics by 31.3% during the third quarter. MetLife Investment Management LLC now owns 29,841 shares of the company’s stock worth $500,000 after purchasing an additional 7,115 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CGEM. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Finally, UBS Group initiated coverage on shares of Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $31.67.

Read Our Latest Stock Analysis on Cullinan Therapeutics

Insider Transactions at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $15.64, for a total value of $125,120.00. Following the completion of the sale, the insider now directly owns 107,942 shares of the company’s stock, valued at $1,688,212.88. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $13.09 on Friday. The firm has a fifty day simple moving average of $15.77 and a two-hundred day simple moving average of $18.01. Cullinan Therapeutics, Inc. has a twelve month low of $7.64 and a twelve month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.09. As a group, research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

Cullinan Therapeutics Company Profile

(Free Report)

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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