Ieq Capital LLC Purchases New Position in Cullinan Therapeutics, Inc. $CGEM

Ieq Capital LLC bought a new stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 33,720 shares of the company’s stock, valued at approximately $614,000. Ieq Capital LLC owned approximately 0.05% of Cullinan Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CGEM. Allworth Financial LP acquired a new position in shares of Cullinan Therapeutics in the second quarter worth about $53,000. Blue Owl Capital Holdings LP acquired a new stake in Cullinan Therapeutics during the 2nd quarter valued at approximately $28,039,000. Great Lakes Advisors LLC acquired a new stake in Cullinan Therapeutics during the 2nd quarter valued at approximately $215,000. BlackRock Inc. purchased a new stake in Cullinan Therapeutics during the 2nd quarter worth approximately $95,289,000. Finally, Deutsche Bank AG purchased a new stake in Cullinan Therapeutics during the 2nd quarter worth approximately $6,972,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Trading Down 4.0%

Shares of NASDAQ CGEM opened at $21.70 on Friday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -7.00 and a beta of 0.01. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $23.19. The business has a 50 day simple moving average of $18.69 and a 200-day simple moving average of $15.75.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). As a group, equities analysts predict that Cullinan Therapeutics, Inc. will post -3.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. BTIG Research raised their price target on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. TD Cowen upgraded shares of Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a report on Monday, August 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.86.

Insider Activity

In other news, insider Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following the completion of the transaction, the insider directly owned 162,844 shares of the company’s stock, valued at approximately $3,299,219.44. The trade was a 15.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 8.60% 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.