Rafferty Asset Management LLC Has $416,000 Holdings in Cullinan Therapeutics, Inc. $CGEM

Key Points

• Rafferty Asset Management LLC reduced its stake in Cullinan Therapeutics by 38.7%, selling 34,716 shares, now holding approximately 54,942 shares valued at about $416,000.
• Cullinan Therapeutics has seen varied institutional interest, with several funds increasing their stakes significantly, including GAMMA Investing LLC, which grew its stake by 1,214.8%.
• Analysts have mixed views on the stock, with targeted price adjustments leading to an average price target of $26.80 and five analysts rating it as a Buy.

Rafferty Asset Management LLC lessened its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 38.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,942 shares of the company's stock after selling 34,716 shares during the period. Rafferty Asset Management LLC owned about 0.09% of Cullinan Therapeutics worth $416,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Cullinan Therapeutics during the 1st quarter worth about $34,000. Aquatic Capital Management LLC acquired a new position in shares of Cullinan Therapeutics in the 4th quarter valued at approximately $77,000. GAMMA Investing LLC grew its position in shares of Cullinan Therapeutics by 1,214.8% in the 1st quarter. GAMMA Investing LLC now owns 6,995 shares of the company's stock valued at $53,000 after purchasing an additional 6,463 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Cullinan Therapeutics by 411.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company's stock valued at $107,000 after purchasing an additional 7,079 shares during the period. Finally, Corton Capital Inc. acquired a new position in shares of Cullinan Therapeutics in the 4th quarter valued at approximately $145,000. Institutional investors and hedge funds own 86.31% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CGEM. UBS Group reduced their price target 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. HC Wainwright began coverage on Cullinan Therapeutics in a research report on Thursday, August 21st. They set a "buy" rating and a $24.00 price target for the company. Morgan Stanley reduced their price target on Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Finally, Stifel Nicolaus began coverage on Cullinan Therapeutics in a research report on Wednesday, June 11th. They set a "buy" rating and a $22.00 price target for the company. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $26.80.

Cullinan Therapeutics Stock Up 1.2%

Shares of NASDAQ CGEM traded up $0.08 during trading hours on Friday, hitting $6.99. The company had a trading volume of 741,007 shares, compared to its average volume of 419,350. The firm's 50 day moving average is $7.70 and its 200-day moving average is $8.01. Cullinan Therapeutics, Inc. has a 1-year low of $6.61 and a 1-year high of $18.62. The stock has a market capitalization of $412.93 million, a P/E ratio of -2.16 and a beta of -0.08.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.24). On average, sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

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.