Jump Financial LLC increased its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 130.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,135 shares of the company's stock after purchasing an additional 37,469 shares during the quarter. Jump Financial LLC owned 0.11% of Cullinan Therapeutics worth $806,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the business. Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Cullinan Therapeutics during the 4th quarter valued at $3,367,000. Geode Capital Management LLC lifted its stake in shares of Cullinan Therapeutics by 23.8% during the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company's stock worth $20,233,000 after purchasing an additional 231,935 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cullinan Therapeutics by 580.9% in the fourth quarter. JPMorgan Chase & Co. now owns 198,214 shares of the company's stock worth $2,414,000 after buying an additional 169,104 shares during the period. Alliancebernstein L.P. grew its stake in shares of Cullinan Therapeutics by 8.5% in the fourth quarter. Alliancebernstein L.P. now owns 2,011,525 shares of the company's stock valued at $24,500,000 after buying an additional 157,115 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at about $1,353,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $106,872.37. Following the sale, the chief executive officer now directly owns 430,621 shares of the company's stock, valued at $3,673,197.13. This trade represents a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Alan Jones sold 4,895 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $41,754.35. Following the transaction, the insider now directly owns 174,164 shares of the company's stock, valued at approximately $1,485,618.92. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. 6.07% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Morgan Stanley reiterated an "overweight" rating and issued a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $34.80.
Get Our Latest Stock Analysis on Cullinan Therapeutics
Cullinan Therapeutics Price Performance
CGEM stock remained flat at $8.14 during mid-day trading on Friday. 250,650 shares of the company's stock traded hands, compared to its average volume of 619,615. The firm has a market cap of $476.30 million, a P/E ratio of -2.87 and a beta of -0.05. The stock's fifty day moving average is $8.23 and its two-hundred day moving average is $11.18. Cullinan Therapeutics, Inc. has a 52 week low of $6.85 and a 52 week high of $30.19.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02. On average, equities research analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.
About Cullinan Therapeutics
(
Free Report)
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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