Deutsche Bank AG Purchases Shares of 382,840 Cullinan Therapeutics, Inc. $CGEM

Key Points

• Deutsche Bank acquired 382,840 shares of Cullinan Therapeutics in the second quarter, valued at approximately $6.97 million and representing 0.62% of the company. Institutional investors and hedge funds collectively own 86.31% of CGEM.
• Cullinan reported quarterly EPS of -$0.81, narrowly missing the consensus estimate of -$0.80. The stock opened at $21.82, near its 12-month high of $22.54, with a market capitalization of approximately $1.40 billion.
• Analyst sentiment remains mixed but leans positive: six analysts rate CGEM a Buy, one a Hold and one a Sell, producing a “Moderate Buy” consensus and an average price target of $32.86. Insider Jennifer Michaelson also sold 30,000 shares for $607,800.

Deutsche Bank AG acquired a new stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 382,840 shares of the company's stock, valued at approximately $6,972,000. Deutsche Bank AG owned 0.62% of Cullinan Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Cullinan Therapeutics in the first quarter valued at approximately $163,000. Jane Street Group LLC grew its holdings in Cullinan Therapeutics by 145.9% during the 1st quarter. Jane Street Group LLC now owns 34,396 shares of the company's stock worth $260,000 after acquiring an additional 109,413 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Cullinan Therapeutics in the 1st quarter valued at approximately $618,000. Creative Planning increased its position in shares of Cullinan Therapeutics by 222.2% in the 2nd quarter. Creative Planning now owns 41,723 shares of the company's stock valued at $314,000 after purchasing an additional 28,773 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Cullinan Therapeutics by 122.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 97,069 shares of the company's stock valued at $731,000 after purchasing an additional 53,522 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total transaction of $607,800.00. Following the completion of the sale, the insider directly owned 162,844 shares of the company's stock, valued at $3,299,219.44. This represents a 15.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Cullinan Therapeutics Price Performance

CGEM stock opened at $21.82 on Tuesday. The company has a fifty day moving average price of $18.05 and a 200 day moving average price of $15.48. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $22.54. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -7.04 and a beta of 0.01.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings data 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). As a group, analysts anticipate that Cullinan Therapeutics, Inc. will post -3.07 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on CGEM. Wall Street Zen lowered Cullinan Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Wedbush upped their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, August 13th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Cullinan Therapeutics in a report on Monday, August 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. Finally, BTIG Research raised their target price on Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Six equities research 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. Based on data from MarketBeat, Cullinan Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $32.86.

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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