Blue Owl Capital Holdings LP Has $14.89 Million Position in Cullinan Therapeutics, Inc. $CGEM

Key Points

• Blue Owl Capital boosted its stake in Cullinan Therapeutics by 5.2% to 2,510,972 shares worth $14.89 million, representing ~4.6% of Blue Owl’s portfolio and its 8th-largest holding.
• Analyst sentiment is mostly positive — eight Buys, one Hold and one Sell — producing an average rating of "Moderate Buy" and a consensus target price of $29.33 versus the recent share price around $15.74.
• Insiders sold roughly 99,912 shares (~$1.29 million) last quarter, cutting insider ownership to 7.16%, while institutional investors own 86.31% of the stock.

Blue Owl Capital Holdings LP boosted its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,510,972 shares of the company's stock after buying an additional 125,000 shares during the quarter. Cullinan Therapeutics makes up approximately 4.6% of Blue Owl Capital Holdings LP's portfolio, making the stock its 8th biggest position. Blue Owl Capital Holdings LP owned about 4.25% of Cullinan Therapeutics worth $14,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CGEM. SG Americas Securities LLC bought a new stake in shares of Cullinan Therapeutics in the 3rd quarter worth approximately $62,000. Tower Research Capital LLC TRC grew its holdings in shares of Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock valued at $62,000 after purchasing an additional 2,523 shares during the last quarter. Inscription Capital LLC bought a new position in shares of Cullinan Therapeutics during the 3rd quarter valued at $67,000. Compass Ion Advisors LLC purchased a new position in Cullinan Therapeutics in the 3rd quarter worth $82,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Cullinan Therapeutics in the 2nd quarter worth $84,000. 86.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CGEM. Wall Street Zen lowered shares of Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, February 8th. HC Wainwright lifted their price objective on Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, January 8th. New Street Research set a $26.00 target price on Cullinan Therapeutics in a research note on Thursday, November 20th. BTIG Research increased their target price on Cullinan Therapeutics from $32.00 to $38.00 and gave the company a "buy" rating in a report on Monday, November 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.33.

Insider Activity

In other news, insider Jacquelyn L. Sumer sold 3,742 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $13.62, for a total transaction of $50,966.04. Following the completion of the sale, the insider directly owned 131,690 shares in the company, valued at approximately $1,793,617.80. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Alan Jones sold 4,982 shares of the firm's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $13.62, for a total value of $67,854.84. Following the completion of the sale, the insider directly owned 164,550 shares in the company, valued at $2,241,171. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 99,912 shares of company stock valued at $1,294,801. 7.16% of the stock is owned by corporate insiders.

Cullinan Therapeutics Stock Up 0.9%

Shares of CGEM opened at $15.74 on Friday. The stock has a market capitalization of $929.92 million, a P/E ratio of -4.76 and a beta of -0.15. The firm has a fifty day simple moving average of $12.28 and a two-hundred day simple moving average of $9.69. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $16.74.

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.

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