Blue Owl Capital Holdings LP Invests $28.04 Million in Cullinan Therapeutics, Inc. $CGEM

Key Points

• Blue Owl Capital Holdings acquired 1.54 million Cullinan Therapeutics shares worth approximately $28.04 million, representing about 2.39% of the company and 4.2% of Blue Owl’s portfolio.
• Cullinan shares opened at $21.38, near their 52-week high of $22.54, despite the company reporting a quarterly loss of $0.81 per share that narrowly missed expectations.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $32.86, although some firms maintain sell ratings; institutional investors own 86.31% of the stock.

Blue Owl Capital Holdings LP acquired a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,539,764 shares of the company's stock, valued at approximately $28,039,000. Cullinan Therapeutics comprises about 4.2% of Blue Owl Capital Holdings LP's investment portfolio, making the stock its 4th biggest position. Blue Owl Capital Holdings LP owned about 2.39% of Cullinan Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in Cullinan Therapeutics by 62.4% in the fourth 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 stake in shares of Cullinan Therapeutics during the fourth quarter valued at approximately $31,000. CWM LLC grew its holdings in shares of Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company's stock valued at $40,000 after buying an additional 1,318 shares during the last quarter. Royal Bank of Canada increased its position in shares of Cullinan Therapeutics by 160.6% during the first quarter. Royal Bank of Canada now owns 4,044 shares of the company's stock valued at $58,000 after acquiring an additional 2,492 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock valued at $62,000 after acquiring an additional 2,523 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

Cullinan Therapeutics Stock Down 5.1%

Cullinan Therapeutics stock opened at $21.38 on Friday. The company has a market cap of $1.38 billion, a P/E ratio of -6.90 and a beta of 0.01. The business has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $15.36. Cullinan Therapeutics, Inc. has a 52-week low of $5.68 and a 52-week high of $22.54.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.01). Research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.07 EPS for the current fiscal year.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 30,000 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider directly owned 162,844 shares in the company, valued at $3,299,219.44. The trade was a 15.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.60% of the company's stock.

Analyst Ratings Changes

CGEM has been the topic of several analyst reports. BTIG Research upped their price objective on Cullinan Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Wall Street Zen cut Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of Cullinan Therapeutics in a report on Monday. Wedbush increased their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $32.86.

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.

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