Boxer Capital Management LLC Makes New $11.06 Million Investment in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Boxer Capital Management LLC bought a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 907,895 shares of the company's stock, valued at approximately $11,058,000. Boxer Capital Management LLC owned about 1.56% of Cullinan Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CGEM. Federated Hermes Inc. increased its stake in Cullinan Therapeutics by 67.0% during the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after acquiring an additional 1,525 shares during the last quarter. Virtus ETF Advisers LLC grew its position in shares of Cullinan Therapeutics by 37.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock worth $71,000 after acquiring an additional 1,600 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Cullinan Therapeutics during the fourth quarter worth $77,000. KLP Kapitalforvaltning AS bought a new position in Cullinan Therapeutics in the fourth quarter worth about $83,000. Finally, Tower Research Capital LLC TRC lifted its position in Cullinan Therapeutics by 411.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company's stock valued at $107,000 after purchasing an additional 7,079 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CGEM. HC Wainwright reiterated a "buy" rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Morgan Stanley reaffirmed an "overweight" rating and set a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Therapeutics presently has an average rating of "Buy" and an average price target of $33.50.

Insider Buying and Selling

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $106,872.37. Following the completion of the sale, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Alan Jones sold 4,895 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $41,754.35. Following the sale, 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 position. The disclosure for this sale can be found here. 6.07% of the stock is owned by insiders.

Cullinan Therapeutics Price Performance

Shares of NASDAQ CGEM traded down $0.00 during mid-day trading on Wednesday, hitting $7.85. The company's stock had a trading volume of 107,099 shares, compared to its average volume of 593,374. The company's fifty day simple moving average is $8.14 and its 200-day simple moving average is $10.80. Cullinan Therapeutics, Inc. has a one year low of $6.85 and a one year high of $30.19. The stock has a market cap of $463.03 million, a price-to-earnings ratio of -2.76 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.75) by $0.02. On average, sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Cullinan Therapeutics Company 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.