Harbor Capital Advisors Inc. Purchases 9,385 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Harbor Capital Advisors Inc. raised its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 43.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,747 shares of the company’s stock after purchasing an additional 9,385 shares during the period. Harbor Capital Advisors Inc. owned 0.05% of Cullinan Therapeutics worth $374,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Amalgamated Bank boosted its stake in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cullinan Therapeutics by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock valued at $1,187,000 after acquiring an additional 2,377 shares during the last quarter. Profund Advisors LLC grew its holdings 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 worth $337,000 after purchasing an additional 4,089 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Cullinan Therapeutics by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock worth $187,000 after purchasing an additional 4,380 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Cullinan Therapeutics by 40.7% in the second quarter. The Manufacturers Life Insurance Company now owns 15,175 shares of the company’s stock worth $265,000 after purchasing an additional 4,393 shares during the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Stock Performance

Shares of Cullinan Therapeutics stock opened at $10.01 on Wednesday. Cullinan Therapeutics, Inc. has a 52-week low of $9.50 and a 52-week high of $30.19. The company has a fifty day moving average of $12.77 and a 200-day moving average of $15.72. The stock has a market capitalization of $582.86 million, a price-to-earnings ratio of -3.52 and a beta of -0.14.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.09. On average, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Cullinan Therapeutics

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. Also, CEO Nadim Ahmed sold 8,400 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 263,150 shares in the company, valued at $3,123,590.50. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,582 shares of company stock worth $372,097 in the last ninety days. 6.07% of the stock is owned by company insiders.

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.