Tema Etfs LLC Purchases New Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Tema Etfs LLC purchased a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 28,433 shares of the company’s stock, valued at approximately $346,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C grew its holdings in Cullinan Therapeutics by 3.0% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,379,399 shares of the company’s stock valued at $41,161,000 after purchasing an additional 99,399 shares during the last quarter. Blue Owl Capital Holdings LP grew its holdings in Cullinan Therapeutics by 17.9% during the 4th quarter. Blue Owl Capital Holdings LP now owns 2,370,972 shares of the company’s stock valued at $28,878,000 after purchasing an additional 360,000 shares during the last quarter. Franklin Resources Inc. grew its holdings in Cullinan Therapeutics by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 2,199,709 shares of the company’s stock valued at $26,792,000 after purchasing an additional 8,447 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Cullinan Therapeutics by 8.5% during the 4th quarter. Alliancebernstein L.P. now owns 2,011,525 shares of the company’s stock valued at $24,500,000 after purchasing an additional 157,115 shares during the last quarter. Finally, Orbimed Advisors LLC grew its holdings in Cullinan Therapeutics by 81.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company’s stock valued at $23,660,000 after purchasing an additional 872,500 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Nadim Ahmed sold 12,529 shares of the 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 completion of the sale, the chief executive officer now owns 430,621 shares of the company’s stock, valued at $3,673,197.13. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey Alan Jones sold 4,895 shares of the 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 $41,754.35. Following the sale, the insider now directly owns 174,164 shares of the company’s stock, valued at $1,485,618.92. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.16% of the company’s stock.

Cullinan Therapeutics Price Performance

Shares of CGEM stock opened at $7.50 on Monday. The company’s 50-day simple moving average is $8.01 and its two-hundred day simple moving average is $10.29. Cullinan Therapeutics, Inc. has a one year low of $6.85 and a one year high of $24.99. The company has a market capitalization of $442.61 million, a P/E ratio of -2.64 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. On average, research analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Analyst Ratings Changes

CGEM has been the topic of a number of research analyst reports. 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 note on Friday, March 7th. HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. Finally, UBS Group dropped their target price on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.00.

About Cullinan Therapeutics

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.