115,000 Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 115,000 shares of the company’s stock, valued at approximately $1,401,000. BNP Paribas Financial Markets owned about 0.20% of Cullinan Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its position in Cullinan Therapeutics by 10.7% in the 4th 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 during the last quarter. Invesco Ltd. raised its position in shares of Cullinan Therapeutics by 2.4% during the 4th quarter. Invesco Ltd. now owns 59,553 shares of the company’s stock valued at $725,000 after acquiring an additional 1,395 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Cullinan Therapeutics by 67.0% during the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock valued at $46,000 after acquiring an additional 1,525 shares during the last quarter. Virtus ETF Advisers LLC raised its position in shares of Cullinan Therapeutics by 37.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock valued at $71,000 after acquiring an additional 1,600 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Cullinan Therapeutics by 7.4% during the 4th quarter. MetLife Investment Management LLC now owns 32,058 shares of the company’s stock valued at $390,000 after acquiring an additional 2,217 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Insider Buying and Selling

In related news, CEO Nadim Ahmed sold 12,529 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 430,621 shares of the company’s stock, valued at approximately $3,673,197.13. This represents a 2.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was 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 directly owns 174,164 shares of the company’s stock, valued at approximately $1,485,618.92. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.16% of the company’s stock.

Cullinan Therapeutics Stock Up 2.8%

CGEM opened at $7.71 on Tuesday. Cullinan Therapeutics, Inc. has a 12 month low of $6.85 and a 12 month high of $24.99. The company has a fifty day simple moving average of $7.98 and a 200 day simple moving average of $10.23. The stock has a market cap of $455.01 million, a P/E ratio of -2.71 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. On average, equities research analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CGEM has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $35.00 target price (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 research report on Wednesday, April 16th. Finally, UBS Group lowered their price objective on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics currently has an average rating of “Buy” and an average price target of $32.00.

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.