Algert Global LLC Increases Holdings in Cullinan Therapeutics, Inc. $CGEM

Key Points

• Algert Global LLC significantly increased its holdings in Cullinan Therapeutics, boosting its position by 411.5% after acquiring additional shares, now totaling 221,430 shares worth approximately $1.68 million.
• Shares of Cullinan Therapeutics are currently trading at $7.67, reflecting a 2.7% increase, and the company has a market cap of about $453.07 million.
• Despite missing earnings expectations with a reported EPS of -$1.07, analysts maintain a positive outlook, with an average rating of "Buy" and a target price of $26.80 for the stock.

Algert Global LLC grew its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 411.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 221,430 shares of the company's stock after acquiring an additional 178,138 shares during the period. Algert Global LLC owned about 0.38% of Cullinan Therapeutics worth $1,676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Virtus ETF Advisers LLC lifted its position in shares of Cullinan Therapeutics by 37.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock valued at $71,000 after acquiring an additional 1,600 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at approximately $77,000. GAMMA Investing LLC lifted its position in shares of Cullinan Therapeutics by 1,214.8% during the 1st quarter. GAMMA Investing LLC now owns 6,995 shares of the company's stock valued at $53,000 after acquiring an additional 6,463 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Cullinan Therapeutics by 411.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company's stock valued at $107,000 after acquiring an additional 7,079 shares during the period. Finally, Corton Capital Inc. acquired a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at approximately $145,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Therapeutics Price Performance

CGEM stock traded down $0.55 during midday trading on Monday, hitting $7.64. The stock had a trading volume of 220,874 shares, compared to its average volume of 419,353. The firm has a market cap of $451.29 million, a PE ratio of -2.37 and a beta of -0.08. Cullinan Therapeutics, Inc. has a 12-month low of $6.85 and a 12-month high of $19.89. The company's 50-day moving average price is $7.80 and its 200 day moving average price is $8.15.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.24). As a group, sell-side analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CGEM shares. Morgan Stanley reduced their price target on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. HC Wainwright started coverage on Cullinan Therapeutics in a research report on Thursday. They set a "buy" rating and a $24.00 price objective for the company. UBS Group cut their price objective on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Stifel Nicolaus started coverage on Cullinan Therapeutics in a research report on Wednesday, June 11th. They set a "buy" rating and a $22.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $26.80.

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.