Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. trimmed its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 17.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,932 shares of the company’s stock after selling 10,308 shares during the period. D. E. Shaw & Co. Inc. owned 0.08% of Cullinan Therapeutics worth $596,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Barclays PLC boosted its position in Cullinan Therapeutics by 26.0% during the third quarter. Barclays PLC now owns 248,614 shares of the company’s stock worth $4,161,000 after acquiring an additional 51,300 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cullinan Therapeutics by 25.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock worth $487,000 after purchasing an additional 5,842 shares in the last quarter. SG Americas Securities LLC lifted its stake in Cullinan Therapeutics by 54.1% in the 4th quarter. SG Americas Securities LLC now owns 23,201 shares of the company’s stock worth $283,000 after purchasing an additional 8,144 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Cullinan Therapeutics during the 4th quarter worth approximately $136,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of 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 valued at $150,000 after purchasing an additional 1,195 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analyst Ratings Changes

CGEM has been the topic of a number of analyst reports. UBS Group reduced their price objective on Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Finally, 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $32.00.

Cullinan Therapeutics Stock Performance

CGEM opened at $7.81 on Monday. Cullinan Therapeutics, Inc. has a one year low of $6.85 and a one year high of $24.99. The stock has a market capitalization of $460.91 million, a P/E ratio of -2.75 and a beta of -0.07. The business’s 50-day simple moving average is $7.90 and its 200-day simple moving average is $10.00.

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

Insider Buying and Selling at Cullinan Therapeutics

In related news, CEO Nadim Ahmed sold 12,529 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the transaction, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 174,164 shares of the company’s stock, valued at $1,485,618.92. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 7.16% of the stock is owned by corporate insiders.

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.