20,273 Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,273 shares of the company’s stock, valued at approximately $247,000.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Cullinan Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,971 shares of the company’s stock valued at $5,249,000 after purchasing an additional 7,012 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of 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 in the last quarter. Rhumbline Advisers increased its stake in shares of Cullinan Therapeutics by 8.5% in the fourth quarter. Rhumbline Advisers now owns 68,208 shares of the company’s stock worth $831,000 after acquiring an additional 5,348 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cullinan Therapeutics by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after acquiring an additional 1,195 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Cullinan Therapeutics during the fourth quarter valued at $136,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jeffrey Alan Jones sold 4,895 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $41,754.35. Following the sale, the insider now owns 174,164 shares in the company, valued at approximately $1,485,618.92. This trade represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nadim Ahmed sold 8,400 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total transaction of $99,708.00. Following the transaction, the chief executive officer now directly owns 263,150 shares in the company, valued at $3,123,590.50. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,824 shares of company stock worth $298,375 over the last ninety days. Company insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock opened at $8.52 on Monday. The company has a market capitalization of $498.53 million, a price-to-earnings ratio of -3.00 and a beta of -0.12. The stock’s 50 day simple moving average is $9.52 and its 200 day simple moving average is $12.89. Cullinan Therapeutics, Inc. has a twelve month low of $7.90 and a twelve month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. On average, analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CGEM shares. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a research report on Friday, February 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $32.86.

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.