310,000 Shares in Cullinan Therapeutics, Inc. $CGEM Bought by Elmind Capital LP

Elmind Capital LP bought a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 310,000 shares of the company’s stock, valued at approximately $3,208,000. Cullinan Therapeutics comprises approximately 0.9% of Elmind Capital LP’s investment portfolio, making the stock its 23rd largest holding. Elmind Capital LP owned 0.52% of Cullinan Therapeutics at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after purchasing an additional 1,036 shares during the last quarter. CWM LLC raised its position in Cullinan Therapeutics by 51.5% during the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after purchasing an additional 1,318 shares during the last quarter. Signaturefd LLC raised its position in Cullinan Therapeutics by 689.7% during the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after purchasing an additional 3,607 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after purchasing an additional 2,523 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Cullinan Therapeutics during the 3rd quarter worth $92,000. 86.31% of the stock is owned by institutional investors.

Cullinan Therapeutics Trading Up 6.6%

Shares of Cullinan Therapeutics stock opened at $14.44 on Thursday. The business has a 50-day moving average price of $14.42 and a two-hundred day moving average price of $13.05. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $16.74. The company has a market cap of $887.48 million, a P/E ratio of -4.30 and a beta of -0.01.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.09. Equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CGEM shares. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, April 10th. BTIG Research reaffirmed a “buy” rating and set a $38.00 target price on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th. 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. Finally, Wedbush reiterated an “outperform” rating and set a $37.00 price target on shares of Cullinan Therapeutics in a report on Thursday, June 11th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cullinan Therapeutics has an average rating of “Moderate Buy” and an average target price of $32.00.

Insiders Place Their Bets

In other news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $14.62, for a total value of $116,960.00. Following the completion of the sale, the insider directly 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 filing with the SEC, which is available at this link. Insiders own 8.60% of the company’s stock.

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.