Ellsworth Advisors LLC Buys New Stake in Cullinan Therapeutics, Inc. $CGEM

Ellsworth Advisors LLC bought a new stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 74,856 shares of the company’s stock, valued at approximately $1,149,000. Ellsworth Advisors LLC owned 0.12% of Cullinan Therapeutics as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CGEM. Integrated Wealth Concepts LLC purchased a new position in shares of Cullinan Therapeutics during the second quarter worth $25,000. GAMMA Investing LLC raised its holdings in shares of Cullinan Therapeutics by 38.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock valued at $41,000 after buying an additional 738 shares during the period. Allworth Financial LP purchased a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at $53,000. Quantbot Technologies LP purchased a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at $53,000. Finally, Seven Fleet Capital Management LP acquired a new position in Cullinan Therapeutics during the 4th quarter worth about $31,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $21.57, for a total transaction of $172,560.00. Following the sale, the insider owned 158,844 shares in the company, valued at $3,426,265.08. This represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Friday, October 2nd. BTIG Research reiterated a “buy” rating and set a $40.00 price target on shares of Cullinan Therapeutics in a research note on Friday, September 25th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. Wedbush raised their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cullinan Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $33.71.

Cullinan Therapeutics Stock Up 2.6%

NASDAQ:CGEM opened at $14.00 on Friday. Cullinan Therapeutics, Inc. has a 52 week low of $6.73 and a 52 week high of $23.19. The company has a fifty day simple moving average of $19.13 and a two-hundred day simple moving average of $16.86. The company has a market cap of $901.04 million, a price-to-earnings ratio of -4.52 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.01). On average, analysts expect that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current year.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer and autoimmune diseases. The company uses a portfolio-based approach to advance targeted therapies and immune-modulating treatments intended to address significant unmet medical needs.

Cullinan’s pipeline includes zovoltamab brengitecan (CLN-978), an investigational CD19-directed T-cell engager being studied in B-cell malignancies and autoimmune conditions, and CLN-619, an investigational antibody designed to target MICA and MICB proteins and stimulate anti-tumor immune responses.