Dimensional Fund Advisors LP grew its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 28.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,318,372 shares of the company's stock after buying an additional 295,467 shares during the period. Dimensional Fund Advisors LP owned 2.26% of Cullinan Therapeutics worth $16,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Springhill Fund Asset Management HK Co Ltd purchased a new stake in shares of Cullinan Therapeutics in the 4th quarter valued at about $3,367,000. JPMorgan Chase & Co. boosted its stake in shares of Cullinan Therapeutics by 580.9% in the fourth quarter. JPMorgan Chase & Co. now owns 198,214 shares of the company's stock valued at $2,414,000 after buying an additional 169,104 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Cullinan Therapeutics by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 2,011,525 shares of the company's stock worth $24,500,000 after acquiring an additional 157,115 shares during the period. Kennedy Capital Management LLC acquired a new position in Cullinan Therapeutics during the fourth quarter worth $1,353,000. Finally, BIT Capital GmbH acquired a new position in Cullinan Therapeutics during the fourth quarter worth $1,149,000. 86.31% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on CGEM shares. HC Wainwright reiterated a "buy" rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Morgan Stanley reiterated an "overweight" rating and set a $35.00 target price (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Finally, UBS Group decreased their target price on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $32.00.
Read Our Latest Report on CGEM
Cullinan Therapeutics Trading Up 4.9%
Shares of NASDAQ:CGEM traded up $0.37 on Monday, hitting $7.91. The company had a trading volume of 566,239 shares, compared to its average volume of 588,290. Cullinan Therapeutics, Inc. has a 52-week low of $6.85 and a 52-week high of $28.11. The business has a 50 day moving average of $8.11 and a 200 day moving average of $10.59. The company has a market cap of $466.81 million, a PE ratio of -2.79 and a beta of -0.07.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.04. As a group, equities analysts predict that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.
Insider Activity
In related news, CEO Nadim Ahmed sold 12,529 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the transaction, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Alan Jones sold 4,895 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $41,754.35. Following the sale, the insider now owns 174,164 shares of the company's stock, valued at $1,485,618.92. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.16% of the company's stock.
Cullinan Therapeutics Company Profile
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Free Report)
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.
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