Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Position Boosted by Millennium Management LLC

Millennium Management LLC increased its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 833,962 shares of the company's stock after buying an additional 45,395 shares during the quarter. Millennium Management LLC owned about 1.43% of Cullinan Therapeutics worth $10,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Cullinan Therapeutics by 26.0% during the third quarter. Barclays PLC now owns 248,614 shares of the company's stock worth $4,161,000 after acquiring an additional 51,300 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Cullinan Therapeutics by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company's stock worth $487,000 after acquiring an additional 5,842 shares during the last quarter. SG Americas Securities LLC increased its stake in Cullinan Therapeutics by 54.1% during the fourth quarter. SG Americas Securities LLC now owns 23,201 shares of the company's stock worth $283,000 after acquiring an additional 8,144 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Cullinan Therapeutics during the fourth quarter worth about $136,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Cullinan Therapeutics by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company's stock worth $150,000 after acquiring an additional 1,195 shares during the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CGEM has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and set a $33.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. Morgan Stanley reiterated an "overweight" rating and issued a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. Finally, UBS Group lowered their target price on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $32.00.

Cullinan Therapeutics Stock Up 4.2%

NASDAQ:CGEM traded up $0.33 during trading hours on Thursday, reaching $8.17. 134,164 shares of the stock were exchanged, compared to its average volume of 573,280. The stock has a market capitalization of $482.15 million, a P/E ratio of -2.88 and a beta of -0.07. Cullinan Therapeutics, Inc. has a 52 week low of $6.85 and a 52 week high of $24.76. The firm has a 50 day simple moving average of $7.85 and a 200-day simple moving average of $9.92.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. As a group, analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

About Cullinan Therapeutics

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.