Nuveen LLC Acquires New Position in Cullinan Therapeutics, Inc. $CGEM

Key Points

• Nuveen LLC has acquired 188,030 shares of Cullinan Therapeutics, valued at approximately $1.423 million, representing a 0.32% stake in the company.
• Cullinan Therapeutics' shares have a 1-year price range of $6.85 to $19.89, with current trading at $7.54, reflecting a decline of 0.9%.
• Analysts maintain a positive outlook on the stock with an average rating of "Buy" and a consensus target price of $26.80, despite recent earnings missing estimates.

Nuveen LLC acquired a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 188,030 shares of the company's stock, valued at approximately $1,423,000. Nuveen LLC owned approximately 0.32% of Cullinan Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Cullinan Therapeutics by 1,214.8% in the 1st 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cullinan Therapeutics by 29.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,792 shares of the company's stock valued at $1,118,000 after purchasing an additional 20,881 shares during the period. Rhumbline Advisers lifted its stake in shares of Cullinan Therapeutics by 4.6% in the 1st quarter. Rhumbline Advisers now owns 71,338 shares of the company's stock valued at $540,000 after purchasing an additional 3,130 shares during the period. ProShare Advisors LLC lifted its stake in shares of Cullinan Therapeutics by 31.2% in the 4th quarter. ProShare Advisors LLC now owns 17,326 shares of the company's stock valued at $211,000 after purchasing an additional 4,124 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Cullinan Therapeutics by 42.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,107 shares of the company's stock valued at $107,000 after purchasing an additional 4,216 shares during the period. Institutional investors and hedge funds own 86.31% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CGEM shares. UBS Group dropped their price objective on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. HC Wainwright started coverage on Cullinan Therapeutics in a report on Thursday, August 21st. They issued a "buy" rating and a $24.00 price objective for the company. Stifel Nicolaus began coverage on Cullinan Therapeutics in a report on Wednesday, June 11th. They issued a "buy" rating and a $22.00 price objective for the company. Finally, Morgan Stanley cut their target price on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $26.80.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ CGEM traded up $0.08 during midday trading on Friday, reaching $6.99. The company's stock had a trading volume of 741,007 shares, compared to its average volume of 419,350. Cullinan Therapeutics, Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $18.62. The business's 50 day moving average price is $7.70 and its two-hundred day moving average price is $8.02. The company has a market cap of $412.90 million, a P/E ratio of -2.16 and a beta of -0.08.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.24). Sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Cullinan Therapeutics Company 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.