Intech Investment Management LLC Acquires Shares of 17,487 Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Intech Investment Management LLC acquired a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,487 shares of the company’s stock, valued at approximately $293,000.

Several other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of Cullinan Therapeutics by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock valued at $390,000 after buying an additional 820 shares during the period. Amalgamated Bank increased its position in shares of Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after buying an additional 872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after buying an additional 3,758 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Cullinan Therapeutics by 22.2% during the third quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock valued at $358,000 after buying an additional 3,881 shares during the period. Finally, Profund Advisors LLC increased its position in shares of Cullinan Therapeutics by 26.8% during the second quarter. Profund Advisors LLC now owns 19,352 shares of the company’s stock valued at $337,000 after buying an additional 4,089 shares during the period. 86.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00. Following the completion of the sale, the insider now owns 107,942 shares of the company’s stock, valued at approximately $1,688,212.88. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. UBS Group started coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $31.67.

Cullinan Therapeutics Trading Up 1.3 %

CGEM stock opened at $12.96 on Thursday. Cullinan Therapeutics, Inc. has a 1-year low of $7.64 and a 1-year high of $30.19. The company’s 50 day moving average is $15.41 and its 200 day moving average is $17.62. The stock has a market cap of $754.66 million, a price-to-earnings ratio of -4.49 and a beta of -0.18.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. As a group, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal 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.