Blue Owl Capital Holdings LP Buys 360,000 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Blue Owl Capital Holdings LP lifted its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,370,972 shares of the company's stock after purchasing an additional 360,000 shares during the quarter. Cullinan Therapeutics comprises about 6.8% of Blue Owl Capital Holdings LP's holdings, making the stock its 5th largest holding. Blue Owl Capital Holdings LP owned 4.07% of Cullinan Therapeutics worth $28,878,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CGEM. Barclays PLC increased its holdings in shares of Cullinan Therapeutics by 26.0% in the third quarter. Barclays PLC now owns 248,614 shares of the company's stock valued at $4,161,000 after purchasing an additional 51,300 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cullinan Therapeutics by 23.8% in the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company's stock valued at $20,233,000 after purchasing an additional 231,935 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cullinan Therapeutics by 25.1% in the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company's stock valued at $487,000 after purchasing an additional 5,842 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Cullinan Therapeutics by 43.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company's stock valued at $374,000 after purchasing an additional 9,385 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Cullinan Therapeutics by 54.1% in the fourth quarter. SG Americas Securities LLC now owns 23,201 shares of the company's stock valued at $283,000 after purchasing an additional 8,144 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

Analyst Upgrades and Downgrades

CGEM has been the subject of several analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $34.80.

Cullinan Therapeutics Trading Up 2.8 %

Cullinan Therapeutics stock traded up $0.22 during mid-day trading on Tuesday, hitting $7.98. The company's stock had a trading volume of 65,140 shares, compared to its average volume of 616,046. Cullinan Therapeutics, Inc. has a 1 year low of $6.85 and a 1 year high of $30.19. The stock's fifty day moving average is $8.20 and its two-hundred day moving average is $11.12. The firm has a market capitalization of $466.99 million, a PE ratio of -2.81 and a beta of -0.05.

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 the consensus estimate of ($0.75) by $0.02. On average, equities analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Insider Activity

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,895 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $41,754.35. Following the completion of the transaction, the insider now owns 174,164 shares of the company's stock, valued at $1,485,618.92. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nadim Ahmed sold 12,529 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the transaction, the chief executive officer now owns 430,621 shares of the company's stock, valued at approximately $3,673,197.13. This trade represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.07% 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.