Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,700 shares of the company’s stock after selling 10,900 shares during the period. Swiss National Bank owned 0.11% of Cullinan Therapeutics worth $764,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Cullinan Therapeutics in the 4th quarter worth about $136,000. China Universal Asset Management Co. Ltd. grew its position in Cullinan Therapeutics by 10.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after purchasing an additional 1,195 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Cullinan Therapeutics by 32.9% in the fourth quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock valued at $157,000 after purchasing an additional 3,200 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cullinan Therapeutics during the fourth quarter valued at approximately $247,000. Finally, SG Americas Securities LLC boosted its position in shares of Cullinan Therapeutics by 54.1% during the fourth quarter. SG Americas Securities LLC now owns 23,201 shares of the company’s stock worth $283,000 after buying an additional 8,144 shares during the period. 86.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CGEM has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a research note 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, the company has a consensus rating of “Buy” and an average price target of $32.86.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jeffrey Alan Jones sold 4,895 shares of the company’s 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 in the company, valued at approximately $1,485,618.92. This represents a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nadim Ahmed sold 12,529 shares of the firm’s 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 $106,872.37. Following the completion of the transaction, the chief executive officer now directly owns 430,621 shares of the company’s stock, valued at $3,673,197.13. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,424 shares of company stock valued at $198,667. Corporate insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Trading Down 3.3 %

Shares of Cullinan Therapeutics stock opened at $8.02 on Friday. The company’s 50-day moving average price is $9.31 and its two-hundred day moving average price is $12.58. The stock has a market cap of $469.27 million, a PE ratio of -2.82 and a beta of -0.12. Cullinan Therapeutics, Inc. has a 52 week low of $7.90 and a 52 week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. On average, equities analysts predict that Cullinan Therapeutics, Inc. will post -3.04 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.