OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 22.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 56,095 shares of the company’s stock after buying an additional 10,120 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cullinan Therapeutics were worth $683,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its position in shares of Cullinan Therapeutics by 26.0% during the third quarter. Barclays PLC now owns 248,614 shares of the company’s stock worth $4,161,000 after purchasing an additional 51,300 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cullinan Therapeutics by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock worth $487,000 after buying an additional 5,842 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Cullinan Therapeutics by 43.9% in 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 during the last quarter. SG Americas Securities LLC lifted its stake in shares of Cullinan Therapeutics by 54.1% in 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 in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Cullinan Therapeutics in the fourth quarter worth about $136,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $41,754.35. Following the transaction, the insider now owns 174,164 shares of the company’s stock, valued at $1,485,618.92. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the sale, the chief executive officer now owns 430,621 shares of the company’s stock, valued at approximately $3,673,197.13. This represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.16% of the company’s stock.

Cullinan Therapeutics Trading Down 3.7%

Shares of CGEM stock opened at $7.62 on Wednesday. Cullinan Therapeutics, Inc. has a twelve month low of $6.85 and a twelve month high of $28.11. The company’s 50-day moving average price is $8.08 and its 200-day moving average price is $10.51. The stock has a market cap of $449.69 million, a price-to-earnings ratio of -2.68 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. As a group, equities research analysts predict that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on CGEM shares. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. UBS Group lowered their target price on Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Monday. Finally, Morgan Stanley restated an “overweight” rating and issued a $35.00 price target (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $32.00.

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.