Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Purchased by Sphera Funds Management LTD.

Sphera Funds Management LTD. boosted its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 205,000 shares of the company’s stock after purchasing an additional 19,129 shares during the period. Sphera Funds Management LTD. owned approximately 0.35% of Cullinan Therapeutics worth $2,497,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in Cullinan Therapeutics by 31.2% in the fourth quarter. ProShare Advisors LLC now owns 17,326 shares of the company’s stock worth $211,000 after purchasing an additional 4,124 shares during the period. Patient Square Capital LP lifted its position in Cullinan Therapeutics by 6.6% in the fourth quarter. Patient Square Capital LP now owns 878,897 shares of the company’s stock worth $10,705,000 after purchasing an additional 54,192 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cullinan Therapeutics by 22.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,095 shares of the company’s stock worth $683,000 after purchasing an additional 10,120 shares during the period. Orbimed Advisors LLC lifted its position in Cullinan Therapeutics by 81.5% in the fourth quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company’s stock worth $23,660,000 after purchasing an additional 872,500 shares during the period. Finally, Millennium Management LLC lifted its position in Cullinan Therapeutics by 5.8% in the fourth quarter. Millennium Management LLC now owns 833,962 shares of the company’s stock worth $10,158,000 after purchasing an additional 45,395 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Therapeutics Stock Performance

NASDAQ CGEM opened at $7.24 on Friday. The stock has a market capitalization of $427.27 million, a P/E ratio of -2.55 and a beta of -0.07. Cullinan Therapeutics, Inc. has a 1 year low of $6.85 and a 1 year high of $26.80. The business’s fifty day moving average is $8.03 and its two-hundred day moving average is $10.43.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data 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. On average, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Insiders Place Their Bets

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the transaction, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 owns 174,164 shares in the company, valued at approximately $1,485,618.92. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $35.00 target price (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Finally, UBS Group dropped their price target on Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Monday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $32.00.

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.