Y Intercept Hong Kong Ltd Takes $1.36 Million Position in Cullinan Therapeutics, Inc. $CGEM

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Cullinan Therapeutics, buying 95,417 shares worth about $1.36 million in the first quarter.
• Cullinan Therapeutics reported a smaller-than-expected quarterly loss, posting EPS of ($0.75) versus analyst estimates of ($0.84).
• Analyst sentiment remains positive overall, with six Buy ratings and an average Moderate Buy target price of $32, while the stock recently traded around $18.13.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 95,417 shares of the company's stock, valued at approximately $1,356,000. Y Intercept Hong Kong Ltd owned approximately 0.16% of Cullinan Therapeutics at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cullinan Therapeutics by 1.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,051 shares of the company's stock valued at $497,000 after purchasing an additional 888 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company's stock valued at $28,000 after purchasing an additional 1,036 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Cullinan Therapeutics by 2.7% during the fourth quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company's stock worth $489,000 after buying an additional 1,255 shares in the last quarter. CWM LLC lifted its position in Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company's stock worth $40,000 after buying an additional 1,318 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Cullinan Therapeutics by 15.3% during the fourth quarter. ProShare Advisors LLC now owns 12,489 shares of the company's stock worth $129,000 after buying an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM traded down $0.25 during mid-day trading on Friday, reaching $18.13. 684,715 shares of the company were exchanged, compared to its average volume of 1,187,043. Cullinan Therapeutics, Inc. has a 1 year low of $5.68 and a 1 year high of $19.43. The firm's 50-day simple moving average is $15.61 and its 200 day simple moving average is $13.83. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -5.40 and a beta of -0.01.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.84) by $0.09. On average, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.06 earnings per share for the current fiscal year.

Insider Transactions at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $17.82, for a total value of $142,560.00. Following the sale, the insider owned 162,844 shares of the company's stock, valued at $2,901,880.08. This trade represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CGEM has been the subject of several analyst reports. Wall Street Zen upgraded Cullinan Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Wedbush reissued an "outperform" rating and set a $37.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, June 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cullinan Therapeutics in a report on Wednesday. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a research report on Monday, June 8th. Finally, BTIG Research restated a "buy" rating and set a $38.00 price objective on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $32.00.

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.

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