111,049 Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Bought by Kennedy Capital Management LLC

Kennedy Capital Management LLC purchased a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 111,049 shares of the company’s stock, valued at approximately $1,353,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its holdings in shares of Cullinan Therapeutics by 43.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock worth $374,000 after purchasing an additional 9,385 shares during the period. JPMorgan Chase & Co. lifted its position in Cullinan Therapeutics by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock valued at $487,000 after buying an additional 5,842 shares in the last quarter. Geode Capital Management LLC lifted 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 in the last quarter. State Street Corp grew its stake in Cullinan Therapeutics by 20.4% during the third quarter. State Street Corp now owns 2,337,222 shares of the company’s stock worth $39,125,000 after buying an additional 396,034 shares during the period. Finally, Barclays PLC increased its position in shares of Cullinan Therapeutics by 26.0% in the third quarter. Barclays PLC now owns 248,614 shares of the company’s stock worth $4,161,000 after acquiring an additional 51,300 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Therapeutics Price Performance

Shares of CGEM stock opened at $7.74 on Tuesday. The firm has a market capitalization of $452.89 million, a P/E ratio of -2.73 and a beta of -0.05. Cullinan Therapeutics, Inc. has a 12 month low of $6.85 and a 12 month high of $30.19. The company’s fifty day moving average price is $8.55 and its two-hundred day moving average price is $11.69.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CGEM shares. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of Cullinan Therapeutics in a research report on Friday, February 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $32.86.

Insiders Place Their Bets

In related news, insider Jeffrey Alan Jones sold 4,895 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $41,754.35. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the transaction, the chief executive officer now directly owns 430,621 shares in the company, valued at $3,673,197.13. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. 6.07% of the stock is currently owned by company insiders.

About Cullinan Therapeutics

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.