XTX Topco Ltd Takes Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

XTX Topco Ltd bought a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 43,399 shares of the company's stock, valued at approximately $529,000. XTX Topco Ltd owned approximately 0.07% of Cullinan Therapeutics as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Cullinan Therapeutics by 43.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company's stock valued at $374,000 after buying an additional 9,385 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Cullinan Therapeutics by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company's stock valued at $487,000 after purchasing an additional 5,842 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cullinan Therapeutics by 23.8% in the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company's stock worth $20,233,000 after buying an additional 231,935 shares during the last quarter. State Street Corp grew its stake in shares of Cullinan Therapeutics by 20.4% during the 3rd quarter. State Street Corp now owns 2,337,222 shares of the company's stock worth $39,125,000 after purchasing an additional 396,034 shares during the period. Finally, Barclays PLC increased its holdings in Cullinan Therapeutics by 26.0% in the third quarter. Barclays PLC now owns 248,614 shares of the company's stock valued at $4,161,000 after buying an additional 51,300 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company's stock.

Analyst Upgrades and Downgrades

CGEM has been the subject of several recent analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $35.00 price target (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. HC Wainwright restated a "buy" rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $34.80.

Cullinan Therapeutics Trading Down 1.1 %

Cullinan Therapeutics stock traded down $0.09 during trading on Friday, hitting $8.05. The company had a trading volume of 67,177 shares, compared to its average volume of 639,046. The stock has a market cap of $471.03 million, a price-to-earnings ratio of -2.83 and a beta of -0.05. Cullinan Therapeutics, Inc. has a 1-year low of $6.85 and a 1-year high of $30.19. The company's 50 day simple moving average is $8.25 and its 200-day simple moving average is $11.29.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02. As a group, analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey Alan Jones sold 4,895 shares of the company's 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 sale, the insider now directly owns 174,164 shares in the company, valued at approximately $1,485,618.92. This represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction 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 sale, the chief executive officer now directly owns 430,621 shares of the company's stock, valued at approximately $3,673,197.13. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.07% of the stock is owned by insiders.

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.