Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 32.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,508 shares of the company's stock after selling 91,292 shares during the period. Renaissance Technologies LLC owned about 0.33% of Cullinan Therapeutics worth $2,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CGEM. Invesco Ltd. grew 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 worth $725,000 after acquiring an additional 1,395 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Cullinan Therapeutics by 67.0% in the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock valued at $46,000 after purchasing an additional 1,525 shares during the period. Springhill Fund Asset Management HK Co Ltd acquired a new position in Cullinan Therapeutics during the 4th quarter worth $3,367,000. Wells Fargo & Company MN increased its holdings in Cullinan Therapeutics by 47.9% during the 4th quarter. Wells Fargo & Company MN now owns 24,864 shares of the company's stock worth $303,000 after purchasing an additional 8,056 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in Cullinan Therapeutics in the 4th quarter valued at about $286,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey Alan Jones sold 4,895 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the transaction, the insider now owns 174,164 shares in the company, valued at approximately $1,485,618.92. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.07% of the company's stock.

Wall Street Analysts Forecast Growth

CGEM has been the topic of a number of recent research reports. HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. 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 report on Friday, March 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $34.80.

Cullinan Therapeutics Stock Up 1.0 %

Cullinan Therapeutics stock traded up $0.09 during mid-day trading on Thursday, hitting $8.37. The company had a trading volume of 120,867 shares, compared to its average volume of 602,168. The stock has a market cap of $493.66 million, a price-to-earnings ratio of -2.94 and a beta of -0.05. Cullinan Therapeutics, Inc. has a 1 year low of $6.85 and a 1 year high of $30.19. The business has a fifty day moving average of $8.16 and a 200 day moving average of $11.07.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating analysts' consensus estimates of ($0.75) by $0.02. Equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

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.