OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 22.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,095 shares of the company’s stock after acquiring an additional 10,120 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of Cullinan Therapeutics worth $683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orbimed Advisors LLC increased its stake 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 in the last quarter. Millennium Management LLC grew its holdings in shares of Cullinan Therapeutics by 5.8% during the fourth quarter. Millennium Management LLC now owns 833,962 shares of the company’s stock valued at $10,158,000 after buying an additional 45,395 shares during the last quarter. Deutsche Bank AG increased its position in shares of Cullinan Therapeutics by 3.4% in the 4th quarter. Deutsche Bank AG now owns 580,136 shares of the company’s stock valued at $7,066,000 after acquiring an additional 19,263 shares during the period. Deerfield Management Company L.P. Series C increased its position in shares of Cullinan Therapeutics by 3.0% in 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 acquiring an additional 99,399 shares during the period. Finally, Corton Capital Inc. purchased a new position in Cullinan Therapeutics in the 4th quarter worth $145,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jeffrey Alan Jones sold 4,895 shares of the 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 $1,485,618.92. This trade represents a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction 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 directly owns 430,621 shares in the company, valued at $3,673,197.13. This represents a 2.83% decrease in their position. The disclosure for this sale can be found here. 7.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Cullinan Therapeutics Trading Down 3.7%

Shares of NASDAQ:CGEM opened at $7.62 on Wednesday. Cullinan Therapeutics, Inc. has a 12-month low of $6.85 and a 12-month high of $28.11. The business has a 50 day moving average of $8.08 and a two-hundred day moving average of $10.51. The company has a market capitalization of $449.69 million, a PE ratio of -2.68 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.04. Equities research analysts predict that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal 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.