Dimensional Fund Advisors LP Sells 233,617 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Dimensional Fund Advisors LP lowered its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 23.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 759,760 shares of the company’s stock after selling 233,617 shares during the period. Dimensional Fund Advisors LP owned about 1.32% of Cullinan Therapeutics worth $13,250,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CGEM. NEOS Investment Management LLC purchased a new position in shares of Cullinan Therapeutics in the 4th quarter worth about $162,000. Parkman Healthcare Partners LLC boosted its stake in Cullinan Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock valued at $5,399,000 after acquiring an additional 91,132 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Cullinan Therapeutics by 81.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock valued at $153,000 after acquiring an additional 4,042 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cullinan Therapeutics by 22.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock worth $294,000 after purchasing an additional 3,134 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Cullinan Therapeutics by 31.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after purchasing an additional 615 shares during the period. Institutional investors own 86.31% of the company’s stock.

Insider Activity

In related news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $18.09, for a total transaction of $144,720.00. Following the completion of the transaction, the insider now directly owns 115,942 shares in the company, valued at $2,097,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $16.34 on Friday. Cullinan Therapeutics, Inc. has a 52-week low of $7.64 and a 52-week high of $30.19. The stock’s 50-day simple moving average is $17.64 and its 200 day simple moving average is $19.23. The stock has a market capitalization of $941.74 million, a price-to-earnings ratio of -5.22 and a beta of -0.13.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). On average, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CGEM has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a research note on Monday, September 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $32.00.

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.