Russell Investments Group Ltd. Buys Shares of 29,363 Cullinan Therapeutics, Inc. $CGEM

Russell Investments Group Ltd. acquired a new position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 29,363 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Cullinan Therapeutics by 1,214.8% in the 1st quarter. GAMMA Investing LLC now owns 6,995 shares of the company’s stock worth $53,000 after acquiring an additional 6,463 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Cullinan Therapeutics in the 4th quarter worth approximately $77,000. Tower Research Capital LLC TRC raised its holdings in Cullinan Therapeutics by 411.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company’s stock worth $107,000 after acquiring an additional 7,079 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Cullinan Therapeutics by 42.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,107 shares of the company’s stock worth $107,000 after acquiring an additional 4,216 shares during the last quarter. Finally, Palumbo Wealth Management LLC purchased a new position in Cullinan Therapeutics in the 1st quarter worth approximately $123,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Trading Down 0.7%

NASDAQ:CGEM opened at $7.49 on Wednesday. Cullinan Therapeutics, Inc. has a 12 month low of $6.85 and a 12 month high of $19.89. The company has a market cap of $442.43 million, a PE ratio of -2.32 and a beta of -0.08. The company has a 50 day simple moving average of $7.73 and a two-hundred day simple moving average of $8.06.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.24). Research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group decreased their price objective on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating for the company in a report on Monday, May 12th. Stifel Nicolaus initiated coverage on shares of Cullinan Therapeutics in a research report on Wednesday, June 11th. They issued a “buy” rating and a $22.00 target price for the company. HC Wainwright initiated coverage on shares of Cullinan Therapeutics in a research report on Thursday, August 21st. They issued a “buy” rating and a $24.00 target price for the company. Finally, Morgan Stanley cut their target price on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, August 18th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Cullinan Therapeutics currently has a consensus rating of “Buy” and an average price target of $26.80.

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.