Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,033 shares of the company’s stock after selling 6,533 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.39% of Cullinan Therapeutics worth $2,765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boxer Capital Management LLC purchased a new position in shares of Cullinan Therapeutics during the 4th quarter valued at approximately $11,058,000. Orbimed Advisors LLC lifted its holdings in Cullinan Therapeutics by 81.5% during the fourth quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company’s stock valued at $23,660,000 after purchasing an additional 872,500 shares in the last quarter. Lynx1 Capital Management LP lifted its holdings in Cullinan Therapeutics by 206.2% during the fourth quarter. Lynx1 Capital Management LP now owns 1,257,795 shares of the company’s stock valued at $15,320,000 after purchasing an additional 846,965 shares in the last quarter. Foresite Capital Management VI LLC acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at about $7,729,000. Finally, Blue Owl Capital Holdings LP increased its stake in shares of Cullinan Therapeutics by 17.9% during the fourth quarter. Blue Owl Capital Holdings LP now owns 2,370,972 shares of the company’s stock worth $28,878,000 after purchasing an additional 360,000 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CGEM. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. UBS Group decreased their price target on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Therapeutics currently has an average rating of “Buy” and an average price target of $32.00.

Cullinan Therapeutics Stock Performance

Cullinan Therapeutics stock opened at $8.75 on Tuesday. Cullinan Therapeutics, Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $24.76. The company has a market capitalization of $516.38 million, a price-to-earnings ratio of -3.08 and a beta of -0.07. The stock has a fifty day moving average of $7.87 and a two-hundred day moving average of $9.69.

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

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.