Moore Capital Management LP Acquires 83,986 Shares of Cullinan Therapeutics, Inc. $CGEM

Moore Capital Management LP boosted its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 79.3% during the second quarter, Holdings Channel.com reports. The firm owned 189,946 shares of the company’s stock after acquiring an additional 83,986 shares during the period. Moore Capital Management LP’s holdings in Cullinan Therapeutics were worth $3,459,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Cullinan Therapeutics by 62.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after buying an additional 1,036 shares during the last quarter. Seven Fleet Capital Management LP purchased a new position in Cullinan Therapeutics in the fourth quarter worth about $31,000. CWM LLC increased its stake in Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after acquiring an additional 1,318 shares during the last quarter. Allworth Financial LP bought a new stake in Cullinan Therapeutics during the second quarter worth approximately $53,000. Finally, Quantbot Technologies LP purchased a new stake in Cullinan Therapeutics during the second quarter valued at approximately $53,000. Institutional investors own 86.31% of the company’s stock.

Analyst Ratings Changes

CGEM has been the subject of several analyst reports. TD Cowen raised Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. 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 target price on shares of Cullinan Therapeutics in a research note on Monday, August 17th. Wall Street Zen lowered shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Wedbush lifted their price target on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cullinan Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $32.86.

Cullinan Therapeutics Stock Up 1.7%

Shares of NASDAQ CGEM opened at $22.07 on Tuesday. The business has a fifty day simple moving average of $18.78 and a two-hundred day simple moving average of $15.85. The firm has a market cap of $1.42 billion, a PE ratio of -7.12 and a beta of 0.01. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $23.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted 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, research analysts expect that Cullinan Therapeutics, Inc. will post -3.08 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jennifer Michaelson sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were 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 approximately $3,299,219.44. The trade was a 15.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.60% of the company’s stock.

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.