UBS Group AG Has $2.81 Million Stock Position in Cullinan Therapeutics, Inc. $CGEM

UBS Group AG increased its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 44.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 271,736 shares of the company’s stock after buying an additional 83,551 shares during the quarter. UBS Group AG owned about 0.46% of Cullinan Therapeutics worth $2,812,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cullinan Therapeutics by 29.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,909 shares of the company’s stock worth $103,000 after buying an additional 2,268 shares during the period. CWM LLC raised its stake in Cullinan Therapeutics by 51.5% during the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after buying an additional 1,318 shares during the period. Signaturefd LLC raised its stake in Cullinan Therapeutics by 689.7% during the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after buying an additional 3,607 shares during the period. Tema Etfs LLC acquired a new position in Cullinan Therapeutics during the 4th quarter worth approximately $383,000. Finally, SG Americas Securities LLC increased its holdings in Cullinan Therapeutics by 49.4% during the 4th quarter. SG Americas Securities LLC now owns 15,631 shares of the company’s stock worth $162,000 after purchasing an additional 5,165 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on CGEM shares. BTIG Research reissued a “buy” rating and set a $38.00 price objective on shares of Cullinan Therapeutics in a report on Tuesday, May 19th. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Citigroup started coverage on Cullinan Therapeutics in a report on Tuesday, February 17th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Wedbush boosted their price objective on Cullinan Therapeutics from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $13.84 on Tuesday. The stock has a 50 day moving average price of $14.19 and a two-hundred day moving average price of $12.42. The firm has a market capitalization of $850.61 million, a P/E ratio of -4.12 and a beta of -0.09. Cullinan Therapeutics, Inc. has a 52 week low of $5.68 and a 52 week high of $16.74.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.09. On average, equities analysts forecast that Cullinan Therapeutics, Inc. will post -3.07 earnings per share for the current year.

Insider Activity

In other news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $14.62, for a total value of $116,960.00. Following the completion of the transaction, the insider directly owned 166,844 shares of the company’s stock, valued at $2,439,259.28. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 17,780 shares of company stock valued at $267,569 over the last three months. Corporate insiders own 8.60% of the company’s stock.

Cullinan Therapeutics Company 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.