Dimensional Fund Advisors LP Has $12.87 Million Stock Position in Cullinan Therapeutics, Inc. $CGEM

Key Points

• Dimensional Fund Advisors increased its Cullinan Therapeutics stake by 6.7% to 906,028 shares, valued at approximately $12.87 million. Institutional investors and hedge funds collectively own 86.31% of CGEM.
• Cullinan reported a quarterly loss of $0.81 per share, slightly missing the $0.80 consensus estimate. The stock opened at $17.73, with a market capitalization of about $1.09 billion.
• Analyst sentiment remains mixed but leans positive: six analysts rate the stock a Buy, one a Hold, and one a Sell, producing a “Moderate Buy” consensus and an average price target of $32.14.

Dimensional Fund Advisors LP increased its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 906,028 shares of the company's stock after buying an additional 57,259 shares during the quarter. Dimensional Fund Advisors LP owned 1.47% of Cullinan Therapeutics worth $12,870,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CGEM. Affinity Asset Advisors LLC boosted its stake in shares of Cullinan Therapeutics by 632.4% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company's stock valued at $19,997,000 after purchasing an additional 1,668,289 shares in the last quarter. Lynx1 Capital Management LP lifted its stake in Cullinan Therapeutics by 31.0% in the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company's stock valued at $34,193,000 after purchasing an additional 1,365,248 shares during the last quarter. Boothbay Fund Management LLC bought a new position in Cullinan Therapeutics in the 4th quarter valued at approximately $12,803,000. State Street Corp boosted its position in Cullinan Therapeutics by 31.0% in the fourth quarter. State Street Corp now owns 2,197,338 shares of the company's stock valued at $22,742,000 after buying an additional 520,024 shares in the last quarter. Finally, Caption Management LLC boosted its position in Cullinan Therapeutics by 107.0% in the third quarter. Caption Management LLC now owns 28,389 shares of the company's stock valued at $168,000 after buying an additional 435,062 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Price Performance

Shares of CGEM opened at $17.73 on Friday. The business has a 50-day moving average of $16.59 and a 200-day moving average of $14.80. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.72 and a beta of 0.01. Cullinan Therapeutics, Inc. has a 1 year low of $5.68 and a 1 year high of $19.43.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.01). As a group, sell-side analysts anticipate that Cullinan Therapeutics, Inc. will post -3 EPS for the current year.

Insider Activity

In other news, insider Jennifer Michaelson sold 8,000 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $17.82, for a total value of $142,560.00. Following the sale, the insider directly owned 162,844 shares of the company's stock, valued at approximately $2,901,880.08. This represents a 4.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wedbush reiterated an "outperform" rating and issued a $37.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, June 11th. Wall Street Zen lowered Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research note on Monday, June 8th. Finally, BTIG Research lifted their price target on Cullinan Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cullinan Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.14.

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.

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