Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,721 shares of the company’s stock after purchasing an additional 10,010 shares during the period. American Century Companies Inc. owned approximately 0.17% of Cullinan Therapeutics worth $1,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Cullinan Therapeutics by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock valued at $150,000 after acquiring an additional 1,195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cullinan Therapeutics by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock valued at $1,187,000 after purchasing an additional 2,377 shares during the last quarter. New York State Common Retirement Fund grew its stake in Cullinan Therapeutics by 32.9% during the 4th quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock valued at $157,000 after purchasing an additional 3,200 shares in the last quarter. Rhumbline Advisers increased its holdings in Cullinan Therapeutics by 8.5% during the 4th quarter. Rhumbline Advisers now owns 68,208 shares of the company’s stock worth $831,000 after purchasing an additional 5,348 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Cullinan Therapeutics by 25.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock valued at $487,000 after purchasing an additional 5,842 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Insider Activity

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value 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. This represents a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $106,872.37. Following the sale, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. This trade represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $7.58 on Friday. The company has a market cap of $443.53 million, a PE ratio of -2.67 and a beta of -0.05. Cullinan Therapeutics, Inc. has a 12 month low of $6.85 and a 12 month high of $30.19. The company has a fifty day moving average price of $8.65 and a two-hundred day moving average price of $11.85.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. Equities research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.