Cullinan Therapeutics, Inc. $CGEM Stake Boosted by Wellington Management Group LLP

Wellington Management Group LLP increased its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 21.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161,057 shares of the company’s stock after purchasing an additional 28,081 shares during the quarter. Wellington Management Group LLP owned 0.27% of Cullinan Therapeutics worth $1,219,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CGEM. Brooklyn Investment Group bought a new position in Cullinan Therapeutics during the first quarter worth $34,000. GAMMA Investing LLC increased its position in Cullinan Therapeutics by 1,214.8% in the first quarter. GAMMA Investing LLC now owns 6,995 shares of the company’s stock worth $53,000 after buying an additional 6,463 shares during the period. Aquatic Capital Management LLC acquired a new stake in Cullinan Therapeutics in the fourth quarter worth $77,000. Tower Research Capital LLC TRC increased its position in Cullinan Therapeutics by 411.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company’s stock worth $107,000 after buying an additional 7,079 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in Cullinan Therapeutics by 42.6% in the first quarter. Exchange Traded Concepts LLC now owns 14,107 shares of the company’s stock worth $107,000 after buying an additional 4,216 shares during the period. 86.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CGEM has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on Cullinan Therapeutics in a research report on Wednesday, June 11th. They issued a “buy” rating and a $22.00 target price on the stock. UBS Group dropped their target price 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 initiated coverage on Cullinan Therapeutics in a research report on Thursday, August 21st. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Morgan Stanley dropped their target price on Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Cullinan Therapeutics currently has an average rating of “Buy” and an average target price of $26.80.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $7.54 on Monday. The firm has a market capitalization of $445.39 million, a price-to-earnings ratio of -2.33 and a beta of -0.08. Cullinan Therapeutics, Inc. has a one year low of $6.85 and a one year high of $19.89. The stock’s fifty day moving average is $7.74 and its 200-day moving average is $8.08.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.24). 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.