Martingale Asset Management L P Grows Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Martingale Asset Management L P boosted its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 17.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,545 shares of the company’s stock after buying an additional 5,703 shares during the period. Martingale Asset Management L P’s holdings in Cullinan Therapeutics were worth $469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its position in shares of Cullinan Therapeutics by 43.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock valued at $374,000 after acquiring an additional 9,385 shares during the last quarter. JPMorgan Chase & Co. raised 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 valued at $487,000 after purchasing an additional 5,842 shares in the last quarter. Geode Capital Management LLC lifted its position in Cullinan Therapeutics by 23.8% during the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock valued at $20,233,000 after purchasing an additional 231,935 shares during the last quarter. State Street Corp grew its stake in shares of Cullinan Therapeutics by 20.4% in the 3rd quarter. State Street Corp now owns 2,337,222 shares of the company’s stock worth $39,125,000 after buying an additional 396,034 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Cullinan Therapeutics by 26.0% in the 3rd quarter. Barclays PLC now owns 248,614 shares of the company’s stock worth $4,161,000 after buying an additional 51,300 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

Insider Activity at Cullinan Therapeutics

In other news, CEO Nadim Ahmed sold 12,529 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the transaction, the chief executive officer now owns 430,621 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 6.07% of the stock is currently owned by company insiders.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock opened at $7.71 on Monday. The stock has a 50 day moving average price of $8.60 and a 200 day moving average price of $11.76. The firm has a market capitalization of $451.14 million, a P/E ratio of -2.71 and a beta of -0.05. Cullinan Therapeutics, Inc. has a 52-week low of $6.85 and a 52-week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.02. As a group, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Analyst Ratings Changes

CGEM has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a research report on Friday, February 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Therapeutics currently has an average rating of “Buy” and an average target price of $32.86.

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.