Cullinan Therapeutics, Inc. $CGEM Shares Sold by Blue Owl Capital Holdings LP

Key Points

• Blue Owl Capital Holdings LP reduced its stake in Cullinan Therapeutics by 6.4% in the fourth quarter, selling 160,000 shares and ending with about 2.35 million shares valued at roughly $24.3 million.
• Analyst sentiment remains cautiously positive overall: the stock has a “Moderate Buy” consensus rating with an average price target of $30.75, though some firms recently downgraded or softened their views.
• Cullinan Therapeutics reported a narrower-than-expected quarterly loss of ($0.75) per share, beating estimates by $0.09, even as insiders sold shares in recent months.

Blue Owl Capital Holdings LP trimmed its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,350,972 shares of the company's stock after selling 160,000 shares during the period. Cullinan Therapeutics accounts for about 1.8% of Blue Owl Capital Holdings LP's portfolio, making the stock its 6th biggest holding. Blue Owl Capital Holdings LP owned approximately 3.98% of Cullinan Therapeutics worth $24,333,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. CWM LLC lifted its position in shares of Cullinan Therapeutics by 51.5% in 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. Signaturefd LLC lifted its position in shares of Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company's stock valued at $43,000 after buying an additional 3,607 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cullinan Therapeutics in the third quarter valued at approximately $62,000. Tower Research Capital LLC TRC lifted its position in shares of Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock valued at $62,000 after buying an additional 2,523 shares during the last quarter. Finally, Inscription Capital LLC acquired a new stake in shares of Cullinan Therapeutics in the third quarter valued at approximately $67,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Zacks Research cut Cullinan Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 19th. Wedbush raised their price objective on Cullinan Therapeutics from $36.00 to $37.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Wall Street Zen raised Cullinan Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Citigroup assumed coverage on Cullinan Therapeutics in a research report on Tuesday, February 17th. They issued a "buy" rating and a $33.00 price objective for the company. Finally, Guggenheim assumed coverage on Cullinan Therapeutics in a research report on Monday, February 2nd. They issued a "buy" rating and a $30.00 price objective for the company. Seven 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 stock. According to MarketBeat.com, Cullinan Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $30.75.

Cullinan Therapeutics Stock Performance

NASDAQ:CGEM opened at $13.84 on Monday. The stock has a market cap of $850.61 million, a P/E ratio of -4.12 and a beta of -0.09. The stock has a 50 day simple moving average of $14.19 and a 200 day simple moving average of $12.37. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $16.74.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.09. As a group, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.07 EPS for the current year.

Insider Transactions at Cullinan Therapeutics

In related news, insider Jeffrey Alan Jones sold 4,582 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $14.47, for a total transaction of $66,301.54. Following the completion of the sale, the insider directly owned 159,968 shares of the company's stock, valued at approximately $2,314,736.96. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Nadim Ahmed sold 13,515 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $14.47, for a total value of $195,562.05. Following the sale, the chief executive officer directly owned 390,803 shares of the company's stock, valued at approximately $5,654,919.41. The trade was a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 43,079 shares of company stock valued at $633,646. 8.60% of the stock is currently owned by company insiders.

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.

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