Profund Advisors LLC Purchases 4,089 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Profund Advisors LLC increased its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 26.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,352 shares of the company’s stock after purchasing an additional 4,089 shares during the period. Profund Advisors LLC’s holdings in Cullinan Therapeutics were worth $337,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its stake in Cullinan Therapeutics by 31.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after buying an additional 615 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Cullinan Therapeutics by 81.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock worth $153,000 after purchasing an additional 4,042 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after purchasing an additional 3,758 shares during the period. NEOS Investment Management LLC purchased a new position in Cullinan Therapeutics in the 4th quarter worth approximately $162,000. Finally, Arizona State Retirement System bought a new position in Cullinan Therapeutics in the 2nd quarter worth approximately $182,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CGEM. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a report on Monday, September 16th. Wedbush reissued an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of Cullinan Therapeutics in a report on Monday, June 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $32.00.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $18.09, for a total value of $144,720.00. Following the completion of the transaction, the insider now owns 115,942 shares in the company, valued at approximately $2,097,390.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Stock Up 5.9 %

Cullinan Therapeutics stock opened at $17.30 on Friday. Cullinan Therapeutics, Inc. has a 52-week low of $7.64 and a 52-week high of $30.19. The firm’s fifty day moving average is $18.02 and its 200 day moving average is $19.22. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -5.53 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.02). On average, equities research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.2 earnings per share for the current fiscal year.

About Cullinan Therapeutics

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.