Federated Hermes Inc. Boosts Stock Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Federated Hermes Inc. raised its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 67.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,802 shares of the company’s stock after purchasing an additional 1,525 shares during the quarter. Federated Hermes Inc.’s holdings in Cullinan Therapeutics were worth $46,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new stake in Cullinan Therapeutics during the 4th quarter valued at about $83,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at approximately $136,000. China Universal Asset Management Co. Ltd. grew its stake in Cullinan Therapeutics by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after purchasing an additional 1,195 shares in the last quarter. New York State Common Retirement Fund increased its holdings 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 worth $157,000 after purchasing an additional 3,200 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in Cullinan Therapeutics during the 4th quarter worth $179,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jeffrey Alan Jones sold 4,895 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the 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 $106,872.37. Following the completion of the transaction, the chief executive officer now directly owns 430,621 shares of the company’s stock, valued at $3,673,197.13. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Trading Up 3.7 %

CGEM opened at $7.89 on Friday. The firm has a market cap of $461.67 million, a price-to-earnings ratio of -2.78 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 stock has a fifty day moving average price of $8.36 and a 200-day moving average price of $11.48.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.02. On average, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CGEM shares. Morgan Stanley reissued an “overweight” rating and set a $35.00 price target (down previously from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Therapeutics has a consensus rating of “Buy” and a consensus target price of $34.80.

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.