Woodline Partners LP Purchases New Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Woodline Partners LP bought a new stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 167,315 shares of the company's stock, valued at approximately $2,038,000. Woodline Partners LP owned about 0.29% of Cullinan Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of Cullinan Therapeutics by 67.0% during the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after buying an additional 1,525 shares in the last quarter. Virtus ETF Advisers LLC boosted its holdings in shares of Cullinan Therapeutics by 37.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock worth $71,000 after buying an additional 1,600 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of Cullinan Therapeutics during the 4th quarter worth approximately $77,000. KLP Kapitalforvaltning AS bought a new position in shares of Cullinan Therapeutics during the 4th quarter worth approximately $83,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Cullinan Therapeutics by 411.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company's stock worth $107,000 after buying an additional 7,079 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CGEM shares. HC Wainwright restated a "buy" rating and set a $33.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Morgan Stanley reaffirmed an "overweight" rating and set a $35.00 target price (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Finally, UBS Group lowered their target price on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $32.00.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM traded down $0.03 during trading on Friday, reaching $8.65. 142,283 shares of the stock were exchanged, compared to its average volume of 574,482. Cullinan Therapeutics, Inc. has a 1-year low of $6.85 and a 1-year high of $24.76. The stock has a fifty day moving average of $7.85 and a two-hundred day moving average of $9.86. The firm has a market cap of $510.48 million, a price-to-earnings ratio of -3.05 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping analysts' consensus estimates of ($0.78) by $0.04. Sell-side analysts forecast 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.