Cullinan Therapeutics, Inc. $CGEM Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. trimmed its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 648,957 shares of the company’s stock after selling 36,417 shares during the period. Goldman Sachs Group Inc. owned approximately 1.10% of Cullinan Therapeutics worth $4,913,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CGEM. Nuveen LLC purchased a new position in shares of Cullinan Therapeutics in the 1st quarter valued at $1,423,000. Algert Global LLC grew its position in shares of Cullinan Therapeutics by 411.5% in the 1st quarter. Algert Global LLC now owns 221,430 shares of the company’s stock valued at $1,676,000 after buying an additional 178,138 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Cullinan Therapeutics in the 4th quarter valued at $2,038,000. BNP Paribas Financial Markets purchased a new position in shares of Cullinan Therapeutics in the 4th quarter valued at $1,401,000. Finally, Jane Street Group LLC grew its position in shares of Cullinan Therapeutics by 145.9% in the 1st quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock valued at $260,000 after buying an additional 109,413 shares during the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CGEM has been the topic of a number of recent analyst reports. Stifel Nicolaus assumed 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 on the stock. HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Cullinan Therapeutics in a research report on Friday, September 12th. Morgan Stanley lowered their price objective on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Finally, BTIG Research reissued a “buy” rating and set a $32.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, September 10th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, Cullinan Therapeutics has a consensus rating of “Buy” and an average price target of $27.67.

Cullinan Therapeutics Stock Performance

CGEM stock opened at $6.29 on Wednesday. Cullinan Therapeutics, Inc. has a one year low of $6.24 and a one year high of $18.62. The stock has a market capitalization of $371.55 million, a PE ratio of -1.95 and a beta of -0.08. The company has a fifty day moving average of $7.55 and a 200-day moving average of $7.91.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, August 7th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.24). Equities analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share 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.