NEOS Investment Management LLC Acquires 2,793 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

NEOS Investment Management LLC grew its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,433 shares of the company’s stock after purchasing an additional 2,793 shares during the period. NEOS Investment Management LLC’s holdings in Cullinan Therapeutics were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. RTW Investments LP lifted its holdings in Cullinan Therapeutics by 62.1% during the 3rd quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock valued at $28,558,000 after purchasing an additional 653,330 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Cullinan Therapeutics by 43.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock worth $374,000 after buying an additional 9,385 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cullinan Therapeutics by 25.1% in the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock valued at $487,000 after acquiring an additional 5,842 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cullinan Therapeutics by 23.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock worth $20,233,000 after acquiring an additional 231,935 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Cullinan Therapeutics by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company’s stock worth $7,097,000 after acquiring an additional 53,328 shares during the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Stock Down 5.6 %

Cullinan Therapeutics stock opened at $7.57 on Tuesday. The stock has a market cap of $442.94 million, a price-to-earnings ratio of -2.67 and a beta of -0.12. Cullinan Therapeutics, Inc. has a 12-month low of $7.30 and a 12-month high of $30.19. The business’s 50-day simple moving average is $9.26 and its 200 day simple moving average is $12.47.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.02. As a group, sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jeffrey Alan Jones sold 4,895 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 174,164 shares in the company, valued at approximately $1,485,618.92. The trade was a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $12.51, for a total transaction of $50,040.00. Following the completion of the sale, the insider now owns 95,760 shares in the company, valued at approximately $1,197,957.60. This trade represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,424 shares of company stock worth $198,667. Insiders own 6.07% of the company’s stock.

Analyst Ratings Changes

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

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.