EntryPoint Capital LLC Buys 9,533 Shares of Cullinan Therapeutics, Inc. $CGEM

EntryPoint Capital LLC increased its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 65.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,190 shares of the company’s stock after purchasing an additional 9,533 shares during the quarter. EntryPoint Capital LLC’s holdings in Cullinan Therapeutics were worth $183,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Cullinan Therapeutics during the first quarter valued at approximately $34,000. Virtus ETF Advisers LLC grew its stake in shares of Cullinan Therapeutics by 37.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock valued at $71,000 after purchasing an additional 1,600 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Cullinan Therapeutics during the fourth quarter valued at approximately $77,000. GAMMA Investing LLC grew its stake in shares of Cullinan Therapeutics by 1,214.8% during the first quarter. GAMMA Investing LLC now owns 6,995 shares of the company’s stock valued at $53,000 after purchasing an additional 6,463 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Cullinan Therapeutics by 411.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company’s stock valued at $107,000 after purchasing an additional 7,079 shares during the last quarter. 86.31% of the stock is owned by institutional investors.

Cullinan Therapeutics Price Performance

Shares of NASDAQ CGEM opened at $8.19 on Monday. The company’s 50 day simple moving average is $7.80 and its 200 day simple moving average is $8.15. The firm has a market capitalization of $483.78 million, a P/E ratio of -2.54 and a beta of -0.08. Cullinan Therapeutics, Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $19.89.

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

Analyst Ratings Changes

CGEM has been the topic of several research analyst reports. UBS Group decreased their price target on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Stifel Nicolaus assumed coverage on shares of Cullinan Therapeutics in a report on Wednesday, June 11th. They issued a “buy” rating and a $22.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, August 18th. Finally, HC Wainwright assumed coverage on shares of Cullinan Therapeutics in a report on Thursday. They issued a “buy” rating and a $24.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Cullinan Therapeutics currently has a consensus rating of “Buy” and an average price target of $26.80.

About Cullinan Therapeutics

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.