Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock Position Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,260 shares of the company’s stock after selling 1,776 shares during the period. Assenagon Asset Management S.A. owned approximately 0.23% of Cullinan Therapeutics worth $1,623,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CGEM. RTW Investments LP boosted its stake in Cullinan Therapeutics by 62.1% in the 3rd quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock worth $28,558,000 after purchasing an additional 653,330 shares during the period. Marshall Wace LLP lifted its holdings in shares of Cullinan Therapeutics by 2,416.9% in the second quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after purchasing an additional 1,136,993 shares in the last quarter. Braidwell LP boosted its position in shares of Cullinan Therapeutics by 567.6% in the third quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock worth $19,689,000 after buying an additional 1,000,000 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Cullinan Therapeutics by 43.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock valued at $374,000 after buying an additional 9,385 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Cullinan Therapeutics by 23.8% during the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock valued at $20,233,000 after buying an additional 231,935 shares during the period. 86.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Nadim Ahmed sold 8,400 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total value of $99,708.00. Following the sale, the chief executive officer now directly owns 263,150 shares of the company’s stock, valued at approximately $3,123,590.50. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total value of $43,682.28. Following the completion of the sale, the insider now directly owns 104,453 shares in the company, valued at approximately $1,307,751.56. This represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,582 shares of company stock valued at $372,097 over the last three months. Company insiders own 6.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group began coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $31.67.

Cullinan Therapeutics Price Performance

Shares of CGEM opened at $10.56 on Friday. The business’s 50 day simple moving average is $11.97 and its 200-day simple moving average is $15.43. Cullinan Therapeutics, Inc. has a one year low of $9.50 and a one year high of $30.19. The company has a market capitalization of $614.91 million, a P/E ratio of -3.72 and a beta of -0.14.

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

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.