Elmind Capital LP Invests $12.56 Billion in Cullinan Therapeutics, Inc. $CGEM

Elmind Capital LP acquired a new stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 690,000 shares of the company’s stock, valued at approximately $12,564,900,000. Cullinan Therapeutics accounts for 3.2% of Elmind Capital LP’s portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its position in Cullinan Therapeutics by 62.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after acquiring an additional 1,036 shares during the period. Seven Fleet Capital Management LP acquired a new stake in Cullinan Therapeutics in the 4th quarter worth $31,000. CWM LLC grew its position in Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after purchasing an additional 1,318 shares during the last quarter. Allworth Financial LP acquired a new stake in Cullinan Therapeutics in the 2nd quarter worth $53,000. Finally, Quantbot Technologies LP bought a new position in shares of Cullinan Therapeutics during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jennifer Michaelson sold 30,000 shares of the company’s 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 sale, the insider owned 162,844 shares of the company’s stock, valued at $3,299,219.44. The trade was a 15.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.60% of the stock is currently owned by insiders.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $22.95 on Wednesday. The firm has a market capitalization of $1.48 billion, a PE ratio of -7.40 and a beta of 0.01. The company’s fifty day moving average price is $18.24 and its two-hundred day moving average price is $15.56. Cullinan Therapeutics, Inc. has a 52-week low of $5.68 and a 52-week high of $23.06.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). Analysts predict that Cullinan Therapeutics, Inc. will post -3.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on CGEM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Wall Street Zen downgraded Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. BTIG Research boosted their price target on Cullinan Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. TD Cowen raised Cullinan Therapeutics to a “strong-buy” rating in a report on Monday. Finally, Wedbush raised their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cullinan Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $32.86.

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.