Trexquant Investment LP Takes $518,000 Position in Cullinan Therapeutics, Inc. $CGEM

Trexquant Investment LP bought a new stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 68,467 shares of the company's stock, valued at approximately $518,000. Trexquant Investment LP owned about 0.12% of Cullinan Therapeutics at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CGEM. AlphaQuest LLC acquired a new position in shares of Cullinan Therapeutics in the 1st quarter valued at $190,000. EntryPoint Capital LLC raised its holdings in shares of Cullinan Therapeutics by 65.0% in the first quarter. EntryPoint Capital LLC now owns 24,190 shares of the company's stock worth $183,000 after acquiring an additional 9,533 shares during the last quarter. Voss Capital LP grew its position in Cullinan Therapeutics by 43.0% during the first quarter. Voss Capital LP now owns 175,000 shares of the company's stock valued at $1,325,000 after acquiring an additional 52,639 shares during the period. Wellington Management Group LLP boosted its holdings in Cullinan Therapeutics by 21.1% in the first quarter. Wellington Management Group LLP now owns 161,057 shares of the company's stock valued at $1,219,000 after purchasing an additional 28,081 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Cullinan Therapeutics during the first quarter valued at approximately $34,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CGEM has been the subject of a number of research analyst reports. BTIG Research restated a "buy" rating and issued a $32.00 target price on shares of Cullinan Therapeutics in a report on Wednesday. Morgan Stanley lowered their price target on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Stifel Nicolaus started coverage on shares of Cullinan Therapeutics in a report on Wednesday, June 11th. They issued a "buy" rating and a $22.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $24.00 target price on shares of Cullinan Therapeutics in a report on Friday. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, Cullinan Therapeutics has an average rating of "Buy" and a consensus price target of $27.67.

Cullinan Therapeutics Stock Down 1.4%

Cullinan Therapeutics stock traded down $0.09 during mid-day trading on Friday, reaching $6.53. 753,813 shares of the company's stock traded hands, compared to its average volume of 509,022. The stock has a 50 day moving average of $7.59 and a two-hundred day moving average of $7.94. The company has a market cap of $385.75 million, a price-to-earnings ratio of -2.02 and a beta of -0.08. Cullinan Therapeutics, Inc. has a 12-month low of $6.37 and a 12-month high of $18.62.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its quarterly 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 forecast 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.