Lynx1 Capital Management Lp Acquires 15,032 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Key Points

• Lynx1 Capital Management Lp acquired 15,032 shares of Cullinan Therapeutics at an average price of $7.59 per share, increasing their total ownership to approximately 8.56 million shares.
• Cullinan Therapeutics' stock decreased by 0.9%, closing at $8.48, with a year high of $17.50 and a year low of $5.68.
• Analysts have assigned an average rating of "Moderate Buy" for Cullinan Therapeutics, with target prices ranging from $24.00 to $35.00.

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) major shareholder Lynx1 Capital Management Lp bought 15,032 shares of the stock in a transaction dated Tuesday, October 14th. The shares were bought at an average price of $7.59 per share, for a total transaction of $114,092.88. Following the completion of the acquisition, the insider owned 8,564,116 shares in the company, valued at approximately $65,001,640.44. The trade was a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Lynx1 Capital Management Lp also recently made the following trade(s):

• On Friday, October 17th, Lynx1 Capital Management Lp bought 32,217 shares of Cullinan Therapeutics stock. The shares were bought at an average price of $7.84 per share, for a total transaction of $252,581.28.
• On Thursday, October 16th, Lynx1 Capital Management Lp bought 150,000 shares of Cullinan Therapeutics stock. The shares were bought at an average price of $8.86 per share, for a total transaction of $1,329,000.00.
• On Wednesday, October 15th, Lynx1 Capital Management Lp bought 51,500 shares of Cullinan Therapeutics stock. The shares were bought at an average price of $7.94 per share, for a total transaction of $408,910.00.
• On Friday, October 10th, Lynx1 Capital Management Lp bought 277,298 shares of Cullinan Therapeutics stock. The shares were bought at an average price of $7.36 per share, for a total transaction of $2,040,913.28.
• On Thursday, October 9th, Lynx1 Capital Management Lp bought 626,043 shares of Cullinan Therapeutics stock. The shares were bought at an average price of $6.70 per share, for a total transaction of $4,194,488.10.
• On Wednesday, October 8th, Lynx1 Capital Management Lp bought 556,300 shares of Cullinan Therapeutics stock. The shares were bought at an average price of $6.46 per share, for a total transaction of $3,593,698.00.

Cullinan Therapeutics Stock Down 0.9%

Shares of Cullinan Therapeutics stock traded down $0.08 on Tuesday, hitting $8.48. 967,329 shares of the company were exchanged, compared to its average volume of 546,615. The stock has a market capitalization of $500.91 million, a price-to-earnings ratio of -2.63 and a beta of -0.12. The company has a 50-day moving average price of $7.01 and a 200 day moving average price of $7.63. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $17.50.

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). Research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on CGEM shares. Weiss Ratings restated a "sell (e+)" rating on shares of Cullinan Therapeutics in a research report on Wednesday, October 8th. Morgan Stanley reduced their target price on Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. HC Wainwright restated a "buy" rating and issued a $24.00 target price on shares of Cullinan Therapeutics in a research report on Friday, September 12th. BTIG Research reissued a "buy" rating and issued a $32.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, September 10th. Finally, Zacks Research raised Cullinan Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cullinan Therapeutics has an average rating of "Moderate Buy" and an average target price of $26.00.

Institutional Trading of Cullinan Therapeutics

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in shares of Cullinan Therapeutics in the first quarter valued at $34,000. GAMMA Investing LLC raised 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 acquiring an additional 6,463 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock valued at $62,000 after acquiring an additional 2,523 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cullinan Therapeutics in the second quarter valued at $84,000. Finally, Massar Capital Management LP acquired a new stake in shares of Cullinan Therapeutics in the second quarter valued at $101,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.

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