Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Acquired by RTW Investments LP

RTW Investments LP lifted its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 62.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,705,960 shares of the company’s stock after purchasing an additional 653,330 shares during the quarter. RTW Investments LP owned about 2.93% of Cullinan Therapeutics worth $28,558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CGEM. Amalgamated Bank grew its stake in shares of Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after purchasing an additional 872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after purchasing an additional 3,758 shares during the period. Arizona State Retirement System acquired a new position in shares of Cullinan Therapeutics during the 2nd quarter worth $182,000. Squarepoint Ops LLC acquired a new position in shares of Cullinan Therapeutics during the 2nd quarter worth $186,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Cullinan Therapeutics by 64.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock worth $187,000 after purchasing an additional 4,380 shares during the period. 86.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CGEM shares. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. UBS Group initiated coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics presently has an average rating of “Buy” and a consensus target price of $31.67.

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $15.64, for a total value of $125,120.00. Following the transaction, the insider now directly owns 107,942 shares in the company, valued at approximately $1,688,212.88. This represents a 6.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.07% of the stock is owned by insiders.

Cullinan Therapeutics Trading Up 1.3 %

NASDAQ:CGEM opened at $12.96 on Thursday. The firm has a market cap of $754.66 million, a price-to-earnings ratio of -4.56 and a beta of -0.18. The company’s 50-day moving average is $15.41 and its two-hundred day moving average is $17.62. Cullinan Therapeutics, Inc. has a 12-month low of $7.64 and a 12-month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. On average, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

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.