Vanguard Group Inc. Boosts Holdings in Cullinan Therapeutics, Inc. $CGEM

Key Points

• Vanguard Group Inc. increased its stake in Cullinan Therapeutics by 3.5% in Q1, owning over 3 million shares valued at $23 million.
• GAMMA Investing LLC significantly amplified its holdings by 1,214.8% during the same period, indicative of growing institutional interest, with 86.31% of stock now owned by institutional investors.
• Cullinan Therapeutics reported a loss of ($1.07) EPS, below analyst expectations, with a consensus rating of "Buy" and a target price of $26.80.

Vanguard Group Inc. increased its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 3.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,039,731 shares of the company's stock after buying an additional 103,504 shares during the period. Vanguard Group Inc. owned about 5.15% of Cullinan Therapeutics worth $23,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CGEM. Wells Fargo & Company MN raised its stake in Cullinan Therapeutics by 47.9% in the fourth quarter. Wells Fargo & Company MN now owns 24,864 shares of the company's stock worth $303,000 after buying an additional 8,056 shares in the last quarter. Invesco Ltd. raised its stake in Cullinan Therapeutics by 2.4% in the fourth 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. Mariner LLC raised its stake in Cullinan Therapeutics by 125.3% in the fourth quarter. Mariner LLC now owns 34,901 shares of the company's stock worth $425,000 after buying an additional 19,411 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Cullinan Therapeutics by 28.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,318,372 shares of the company's stock worth $16,058,000 after buying an additional 295,467 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Cullinan Therapeutics by 7.4% in the fourth quarter. MetLife Investment Management LLC now owns 32,058 shares of the company's stock worth $390,000 after buying an additional 2,217 shares in the last quarter. Institutional investors own 86.31% of the company's stock.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ CGEM traded up $0.23 during mid-day trading on Wednesday, hitting $7.72. The stock had a trading volume of 571,374 shares, compared to its average volume of 348,309. The company has a 50 day moving average of $7.73 and a two-hundred day moving average of $8.06. Cullinan Therapeutics, Inc. has a twelve month low of $6.85 and a twelve month high of $19.66. The firm has a market cap of $456.02 million, a PE ratio of -2.39 and a beta of -0.08.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. 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. Stifel Nicolaus started coverage on Cullinan Therapeutics in a research report on Wednesday, June 11th. They set a "buy" rating and a $22.00 price target on the stock. HC Wainwright started coverage on Cullinan Therapeutics in a research report on Thursday, August 21st. They set a "buy" rating and a $24.00 price target on the stock. Finally, Morgan Stanley reduced their price target on Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $26.80.

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.