Walleye Capital LLC Has $5.50 Million Stock Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Walleye Capital LLC increased its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 253.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 328,417 shares of the company’s stock after purchasing an additional 235,548 shares during the quarter. Walleye Capital LLC owned approximately 0.56% of Cullinan Therapeutics worth $5,498,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CGEM. Price T Rowe Associates Inc. MD grew its holdings in Cullinan Therapeutics by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after acquiring an additional 820 shares during the last quarter. Amalgamated Bank grew its holdings in Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after acquiring an additional 872 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cullinan Therapeutics by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock worth $1,187,000 after acquiring an additional 2,377 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after acquiring an additional 3,758 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Cullinan Therapeutics by 22.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock valued at $358,000 after purchasing an additional 3,881 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $13.45 on Monday. The company’s 50 day simple moving average is $15.57 and its 200 day simple moving average is $17.83. Cullinan Therapeutics, Inc. has a fifty-two week low of $7.64 and a fifty-two week high of $30.19. The firm has a market capitalization of $783.17 million, a price-to-earnings ratio of -4.74 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.09. As a group, analysts predict that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CGEM. Wedbush reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Finally, UBS Group began coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $31.67.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total transaction of $144,720.00. Following the sale, the insider now directly owns 115,942 shares in the company, valued at approximately $2,097,390.78. This trade represents a 6.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.07% of the company’s stock.

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.