Voss Capital LP Boosts Stake in Cullinan Therapeutics, Inc. $CGEM

Key Points

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Voss Capital LP boosted its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 43.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,000 shares of the company's stock after acquiring an additional 52,639 shares during the quarter. Voss Capital LP owned about 0.30% of Cullinan Therapeutics worth $1,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Cullinan Therapeutics by 580.9% during the fourth quarter. JPMorgan Chase & Co. now owns 198,214 shares of the company's stock worth $2,414,000 after acquiring an additional 169,104 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cullinan Therapeutics by 1,214.8% in the first quarter. GAMMA Investing LLC now owns 6,995 shares of the company's stock valued at $53,000 after buying an additional 6,463 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cullinan Therapeutics by 29.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,792 shares of the company's stock valued at $1,118,000 after buying an additional 20,881 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Cullinan Therapeutics by 4.6% in the first quarter. Rhumbline Advisers now owns 71,338 shares of the company's stock valued at $540,000 after buying an additional 3,130 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Cullinan Therapeutics by 2.4% in the fourth quarter. Invesco Ltd. now owns 59,553 shares of the company's stock valued at $725,000 after buying an additional 1,395 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

Analyst Ratings Changes

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

Cullinan Therapeutics Trading Up 6.8%

NASDAQ:CGEM traded up $0.52 during midday trading on Friday, reaching $8.19. The company had a trading volume of 629,410 shares, compared to its average volume of 381,468. The firm has a market capitalization of $483.78 million, a price-to-earnings ratio of -2.54 and a beta of -0.08. The stock's fifty day simple moving average is $7.80 and its 200-day simple moving average is $8.15. Cullinan Therapeutics, Inc. has a 12-month low of $6.85 and a 12-month high of $19.89.

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

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.