Tema Etfs LLC Makes New $346,000 Investment in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Tema Etfs LLC purchased a new position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 28,433 shares of the company’s stock, valued at approximately $346,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. raised its holdings in shares of Cullinan Therapeutics by 67.0% in the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock worth $46,000 after buying an additional 1,525 shares during the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Cullinan Therapeutics by 37.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock worth $71,000 after purchasing an additional 1,600 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Cullinan Therapeutics during the fourth quarter worth $77,000. KLP Kapitalforvaltning AS purchased a new position in shares of Cullinan Therapeutics during the fourth quarter worth $83,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Cullinan Therapeutics by 411.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company’s stock worth $107,000 after purchasing an additional 7,079 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Insider Activity at Cullinan Therapeutics

In other news, insider Jeffrey Alan Jones sold 4,895 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 value of $41,754.35. Following the sale, the insider now owns 174,164 shares in the company, valued at $1,485,618.92. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the sale, the chief executive officer now owns 430,621 shares in the company, valued at approximately $3,673,197.13. This trade represents a 2.83% decrease in their position. The disclosure for this sale can be found here. 7.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

CGEM has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Morgan Stanley reissued an “overweight” rating and set a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. Finally, UBS Group reduced their target price on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating for the company in a report on Monday, May 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $32.00.

Cullinan Therapeutics Stock Performance

CGEM stock opened at $7.50 on Monday. The firm has a market cap of $442.61 million, a PE ratio of -2.64 and a beta of -0.07. The firm’s fifty day moving average is $8.01 and its 200 day moving average is $10.29. Cullinan Therapeutics, Inc. has a one year low of $6.85 and a one year high of $24.99.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. Research analysts predict that Cullinan Therapeutics, Inc. will post -3.04 earnings per share 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.