31,893 Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Acquired by HighVista Strategies LLC

HighVista Strategies LLC bought a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 31,893 shares of the company’s stock, valued at approximately $534,000.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Cullinan Therapeutics by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after acquiring an additional 820 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Cullinan Therapeutics by 39.4% during the second quarter. Harbor Capital Advisors Inc. now owns 17,481 shares of the company’s stock worth $305,000 after buying an additional 4,941 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cullinan Therapeutics by 757.2% in the second quarter. SG Americas Securities LLC now owns 85,172 shares of the company’s stock worth $1,485,000 after acquiring an additional 75,236 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Cullinan Therapeutics in the second quarter worth about $1,992,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Cullinan Therapeutics by 46.4% in the second quarter. Bank of New York Mellon Corp now owns 137,997 shares of the company’s stock worth $2,407,000 after acquiring an additional 43,757 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total value of $125,120.00. Following the sale, the insider now directly owns 107,942 shares of the company’s stock, valued at approximately $1,688,212.88. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.07% of the stock is owned by corporate insiders.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock opened at $12.80 on Wednesday. Cullinan Therapeutics, Inc. has a fifty-two week low of $7.64 and a fifty-two week high of $30.19. The stock has a 50 day moving average price of $15.50 and a two-hundred day moving average price of $17.69. The company has a market capitalization of $745.34 million, a P/E ratio of -4.51 and a beta of -0.18.

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

Analysts Set New Price Targets

CGEM has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Finally, UBS Group initiated coverage on shares of Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $30.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Therapeutics has an average rating of “Buy” and a consensus price target of $31.67.

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.