Charles Schwab Investment Management Inc. Has $5.25 Million Stock Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Charles Schwab Investment Management Inc. raised its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,971 shares of the company’s stock after buying an additional 7,012 shares during the period. Charles Schwab Investment Management Inc. owned 0.74% of Cullinan Therapeutics worth $5,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CGEM. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Cullinan Therapeutics during the fourth quarter worth $136,000. China Universal Asset Management Co. Ltd. lifted its holdings in Cullinan Therapeutics by 10.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after buying an additional 1,195 shares during the period. New York State Common Retirement Fund grew its position in shares of Cullinan Therapeutics by 32.9% in the 4th quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock valued at $157,000 after buying an additional 3,200 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Cullinan Therapeutics in the third quarter valued at about $293,000. Finally, FMR LLC raised its position in shares of Cullinan Therapeutics by 2,898.5% during the third quarter. FMR LLC now owns 20,360 shares of the company’s stock worth $341,000 after acquiring an additional 19,681 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,895 shares of Cullinan Therapeutics stock in a transaction that occurred 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 completion of the sale, the insider now owns 174,164 shares of the company’s stock, valued at approximately $1,485,618.92. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 95,760 shares in the company, valued at approximately $1,197,957.60. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,424 shares of company stock worth $198,667 in the last three months. 6.07% of the stock is owned by corporate insiders.

Cullinan Therapeutics Price Performance

Shares of CGEM stock opened at $8.30 on Wednesday. The business has a 50-day moving average of $9.44 and a 200 day moving average of $12.75. Cullinan Therapeutics, Inc. has a 1-year low of $7.90 and a 1-year high of $30.19. The stock has a market capitalization of $485.66 million, a PE ratio of -2.92 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly 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. Analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research note on Friday, February 28th. Morgan Stanley reissued an “overweight” rating and issued a $35.00 price objective (down 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, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $32.86.

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.