Assenagon Asset Management S.A. Sells 123,198 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Assenagon Asset Management S.A. lessened its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 92.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,062 shares of the company's stock after selling 123,198 shares during the period. Assenagon Asset Management S.A.'s holdings in Cullinan Therapeutics were worth $76,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in 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 acquiring an additional 169,104 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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. New York State Common Retirement Fund increased its stake in Cullinan Therapeutics by 32.9% during the 4th quarter. New York State Common Retirement Fund now owns 12,918 shares of the company's stock valued at $157,000 after purchasing an additional 3,200 shares in the last quarter. Rhumbline Advisers raised its holdings in Cullinan Therapeutics by 8.5% during the fourth quarter. Rhumbline Advisers now owns 68,208 shares of the company's stock worth $831,000 after buying an additional 5,348 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Cullinan Therapeutics by 2.4% in the fourth quarter. Invesco Ltd. now owns 59,553 shares of the company's stock valued at $725,000 after buying an additional 1,395 shares in the last quarter. 86.31% of the stock is owned by institutional investors.

Cullinan Therapeutics Stock Up 3.4%

Cullinan Therapeutics stock traded up $0.26 during mid-day trading on Tuesday, reaching $7.84. 333,400 shares of the company's stock were exchanged, compared to its average volume of 533,292. The business's fifty day simple moving average is $8.15 and its 200 day simple moving average is $9.24. Cullinan Therapeutics, Inc. has a one year low of $6.85 and a one year high of $21.01. The firm has a market capitalization of $462.68 million, a PE ratio of -2.69 and a beta of -0.04.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping analysts' consensus estimates of ($0.78) by $0.04. On average, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Analyst Ratings Changes

CGEM has been the subject of several recent research reports. UBS Group decreased their target price on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Stifel Nicolaus started coverage on Cullinan Therapeutics in a report on Wednesday, June 11th. They set a "buy" rating and a $22.00 price objective for the company. Morgan Stanley reissued an "overweight" rating and issued a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $30.00.

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.