Aquatic Capital Management LLC Takes $77,000 Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Aquatic Capital Management LLC bought a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,357 shares of the company’s stock, valued at approximately $77,000.

Several other institutional investors have also bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of Cullinan Therapeutics by 26.0% during the third quarter. Barclays PLC now owns 248,614 shares of the company’s stock valued at $4,161,000 after acquiring an additional 51,300 shares during the period. JPMorgan Chase & Co. boosted its position in Cullinan Therapeutics by 25.1% in the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock valued at $487,000 after buying an additional 5,842 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Cullinan Therapeutics by 43.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock worth $374,000 after buying an additional 9,385 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Cullinan Therapeutics by 54.1% during the fourth quarter. SG Americas Securities LLC now owns 23,201 shares of the company’s stock worth $283,000 after buying an additional 8,144 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Cullinan Therapeutics in the fourth quarter valued at approximately $136,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CGEM shares. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $33.50.

Cullinan Therapeutics Stock Performance

CGEM opened at $8.27 on Tuesday. The firm’s fifty day moving average is $8.15 and its two-hundred day moving average is $10.82. The firm has a market cap of $488.05 million, a PE ratio of -2.91 and a beta of -0.07. Cullinan Therapeutics, Inc. has a twelve month low of $6.85 and a twelve month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted 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. Equities analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling

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

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.