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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) major shareholder Lynx1 Capital Management Lp bought 15,032 shares of the stock in a transaction dated Tuesday, October 14th. The shares were acquired at an average cost of $7.59 per share, for a total transaction of $114,092.88. Following the completion of the acquisition, the insider directly owned 8,564,116 shares of the company’s stock, valued at approximately $65,001,640.44. This trade represents a 0.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 17th, Lynx1 Capital Management Lp acquired 32,217 shares of Cullinan Therapeutics stock. The stock was bought at an average cost of $7.84 per share, with a total value 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 cost 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 stock was purchased at an average cost 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 acquired at an average price of $7.36 per share, with a total value of $2,040,913.28.
• On Thursday, October 9th, Lynx1 Capital Management Lp acquired 626,043 shares of Cullinan Therapeutics stock. The stock was acquired at an average cost of $6.70 per share, for a total transaction of $4,194,488.10.
• On Wednesday, October 8th, Lynx1 Capital Management Lp acquired 556,300 shares of Cullinan Therapeutics stock. The shares were bought at an average price of $6.46 per share, with a total value of $3,593,698.00.

Cullinan Therapeutics Trading Down 4.2%

Shares of CGEM stock opened at $8.12 on Thursday. The business’s 50-day moving average price is $7.04 and its 200-day moving average price is $7.64. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $17.50. The firm has a market capitalization of $479.65 million, a price-to-earnings ratio of -2.51 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, August 7th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.24). On average, sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in Cullinan Therapeutics during the first quarter valued at $34,000. GAMMA Investing LLC boosted 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 worth $53,000 after acquiring an additional 6,463 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after purchasing an additional 2,523 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Cullinan Therapeutics during the 2nd quarter valued at approximately $84,000. Finally, Massar Capital Management LP purchased a new position in Cullinan Therapeutics in the 2nd quarter worth approximately $101,000. Institutional investors own 86.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.