New York State Common Retirement Fund Buys 3,200 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

New York State Common Retirement Fund grew its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 32.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,918 shares of the company’s stock after purchasing an additional 3,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Cullinan Therapeutics were worth $157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CGEM. Amalgamated Bank grew its stake in Cullinan Therapeutics by 97.3% in the 3rd 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 last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Cullinan Therapeutics during the fourth quarter valued at about $136,000. China Universal Asset Management Co. Ltd. raised its holdings 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 valued at $150,000 after acquiring an additional 1,195 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Cullinan Therapeutics by 54.1% in the 4th quarter. SG Americas Securities LLC now owns 23,201 shares of the company’s stock worth $283,000 after acquiring an additional 8,144 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Cullinan Therapeutics during the 3rd quarter worth approximately $293,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Therapeutics Trading Up 3.7 %

NASDAQ CGEM opened at $8.43 on Thursday. The stock’s 50 day moving average is $10.29 and its two-hundred day moving average is $13.75. The company has a market capitalization of $490.86 million, a price-to-earnings ratio of -2.97 and a beta of -0.16. Cullinan Therapeutics, Inc. has a 1-year low of $7.90 and a 1-year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. On average, analysts predict that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Nadim Ahmed sold 8,400 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total value of $99,708.00. Following the transaction, the chief executive officer now owns 263,150 shares of the company’s stock, valued at approximately $3,123,590.50. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Michaelson sold 3,489 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28. Following the sale, the insider now directly owns 104,453 shares of the company’s stock, valued at approximately $1,307,751.56. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,006 shares of company stock worth $395,604 in the last three months. Insiders own 6.07% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.50.

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.