94,344 Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Purchased by BIT Capital GmbH

BIT Capital GmbH acquired a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 94,344 shares of the company’s stock, valued at approximately $1,149,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CGEM. KLP Kapitalforvaltning AS purchased a new position in shares of Cullinan Therapeutics during the 4th quarter valued at approximately $83,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Cullinan Therapeutics in the fourth quarter valued at $136,000. China Universal Asset Management Co. Ltd. raised its holdings in Cullinan Therapeutics by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock valued at $150,000 after acquiring an additional 1,195 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Cullinan Therapeutics by 32.9% during the 4th quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock valued at $157,000 after acquiring an additional 3,200 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Cullinan Therapeutics during the 4th quarter worth $179,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $12.51, for a total value of $50,040.00. Following the sale, the insider now owns 95,760 shares of the company’s stock, valued at $1,197,957.60. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Alan Jones sold 4,895 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, February 25th. The shares were 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 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. In the last 90 days, insiders have sold 21,424 shares of company stock valued at $198,667. Insiders own 6.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CGEM. 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 restated a “buy” rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $32.86.

Cullinan Therapeutics Stock Performance

NASDAQ CGEM opened at $8.09 on Thursday. Cullinan Therapeutics, Inc. has a one year low of $7.90 and a one year high of $30.19. The company has a 50-day simple moving average of $9.39 and a 200-day simple moving average of $12.72. The firm has a market capitalization of $473.37 million, a PE ratio of -2.85 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last issued 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 forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Cullinan Therapeutics Company 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.