115,000 Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 115,000 shares of the company's stock, valued at approximately $1,401,000. BNP Paribas Financial Markets owned approximately 0.20% of Cullinan Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its position in shares of Cullinan Therapeutics by 10.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company's stock worth $150,000 after purchasing an additional 1,195 shares in the last quarter. Invesco Ltd. lifted its position in shares of Cullinan Therapeutics by 2.4% during the 4th quarter. Invesco Ltd. now owns 59,553 shares of the company's stock worth $725,000 after buying an additional 1,395 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Cullinan Therapeutics by 67.0% in the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after purchasing an additional 1,525 shares during the period. Virtus ETF Advisers LLC raised its holdings in shares of Cullinan Therapeutics by 37.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock worth $71,000 after purchasing an additional 1,600 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of Cullinan Therapeutics by 7.4% in the 4th quarter. MetLife Investment Management LLC now owns 32,058 shares of the company's stock worth $390,000 after purchasing an additional 2,217 shares during the period. Institutional investors own 86.31% of the company's stock.

Insider Activity at Cullinan Therapeutics

In related news, insider Jeffrey Alan Jones sold 4,895 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $41,754.35. Following the transaction, the insider now owns 174,164 shares in the company, valued at $1,485,618.92. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the transaction, the chief executive officer now owns 430,621 shares in the company, valued at $3,673,197.13. This represents a 2.83% decrease in their position. The disclosure for this sale can be found here. 7.16% of the stock is owned by corporate insiders.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock traded down $0.08 during mid-day trading on Friday, hitting $7.81. The company's stock had a trading volume of 287,132 shares, compared to its average volume of 578,046. The stock has a market cap of $460.91 million, a price-to-earnings ratio of -2.75 and a beta of -0.07. The business has a 50 day moving average price of $7.90 and a 200-day moving average price of $10.00. Cullinan Therapeutics, Inc. has a 12 month low of $6.85 and a 12 month high of $24.99.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. On average, equities research analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CGEM shares. UBS Group reduced their price objective on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Morgan Stanley restated an "overweight" rating and set a $35.00 price target (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $32.00.

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.