Voss Capital LP Makes New $1.49 Million Investment in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Voss Capital LP bought a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 122,361 shares of the company's stock, valued at approximately $1,490,000. Voss Capital LP owned 0.21% of Cullinan Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CGEM. Dimensional Fund Advisors LP boosted its position in shares of Cullinan Therapeutics by 28.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,318,372 shares of the company's stock worth $16,058,000 after purchasing an additional 295,467 shares during the period. Springhill Fund Asset Management HK Co Ltd purchased a new position in Cullinan Therapeutics during the 4th quarter valued at about $3,367,000. Geode Capital Management LLC boosted its holdings in Cullinan Therapeutics by 23.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company's stock valued at $20,233,000 after acquiring an additional 231,935 shares during the period. JPMorgan Chase & Co. grew its position in Cullinan Therapeutics by 580.9% in the 4th quarter. JPMorgan Chase & Co. now owns 198,214 shares of the company's stock valued at $2,414,000 after acquiring an additional 169,104 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Cullinan Therapeutics by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 2,011,525 shares of the company's stock worth $24,500,000 after purchasing an additional 157,115 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CGEM shares. 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 note on Friday, March 7th. HC Wainwright reissued a "buy" rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of "Buy" and an average price target of $34.80.

Insider Activity

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $106,872.37. Following the completion of the transaction, the chief executive officer now owns 430,621 shares in the company, valued at $3,673,197.13. This represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey Alan Jones sold 4,895 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $41,754.35. Following the transaction, the insider now directly owns 174,164 shares in the company, valued at approximately $1,485,618.92. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.07% of the company's stock.

Cullinan Therapeutics Price Performance

NASDAQ:CGEM remained flat at $8.14 during trading hours on Friday. The company had a trading volume of 250,650 shares, compared to its average volume of 636,128. Cullinan Therapeutics, Inc. has a 52-week low of $6.85 and a 52-week high of $30.19. The company has a market capitalization of $476.30 million, a PE ratio of -2.87 and a beta of -0.05. The company has a 50-day simple moving average of $8.23 and a two-hundred day simple moving average of $11.24.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.02. As a group, analysts predict 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.