Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 29.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 91,792 shares of the company’s stock after buying an additional 20,881 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Cullinan Therapeutics worth $1,118,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Woodline Partners LP acquired a new position in shares of Cullinan Therapeutics in the 4th quarter valued at about $2,038,000. Two Sigma Advisers LP boosted its holdings in shares of Cullinan Therapeutics by 22.3% in the 4th quarter. Two Sigma Advisers LP now owns 21,900 shares of the company’s stock valued at $267,000 after buying an additional 4,000 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Cullinan Therapeutics by 83.9% in the 4th quarter. Two Sigma Investments LP now owns 42,205 shares of the company’s stock valued at $514,000 after buying an additional 19,261 shares during the period. Tema Etfs LLC acquired a new position in shares of Cullinan Therapeutics in the 4th quarter valued at about $346,000. Finally, Sphera Funds Management LTD. boosted its holdings in shares of Cullinan Therapeutics by 10.3% in the 4th quarter. Sphera Funds Management LTD. now owns 205,000 shares of the company’s stock valued at $2,497,000 after buying an additional 19,129 shares during the period. 86.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CGEM. 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. UBS Group cut their price objective on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th.

Cullinan Therapeutics Stock Down 3.5%

Shares of NASDAQ:CGEM opened at $8.76 on Tuesday. The company has a market cap of $516.97 million, a PE ratio of -3.08 and a beta of -0.04. The company’s 50-day moving average price is $7.98 and its 200 day moving average price is $9.56. Cullinan Therapeutics, Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $24.76.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. As a group, equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

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.