Exchange Traded Concepts LLC Sells 2,961 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Exchange Traded Concepts LLC lessened its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 23.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,891 shares of the company’s stock after selling 2,961 shares during the period. Exchange Traded Concepts LLC’s holdings in Cullinan Therapeutics were worth $166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in Cullinan Therapeutics by 757.2% in the second quarter. SG Americas Securities LLC now owns 85,172 shares of the company’s stock valued at $1,485,000 after acquiring an additional 75,236 shares in the last quarter. Marshall Wace LLP increased its position in shares of Cullinan Therapeutics by 2,416.9% in the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after acquiring an additional 1,136,993 shares during the period. E Fund Management Co. Ltd. purchased a new stake in Cullinan Therapeutics in the second quarter valued at approximately $1,305,000. Bank of New York Mellon Corp increased its holdings in Cullinan Therapeutics by 46.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,997 shares of the company’s stock worth $2,407,000 after buying an additional 43,757 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Cullinan Therapeutics by 22.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock worth $294,000 after buying an additional 3,134 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total transaction of $144,720.00. Following the completion of the sale, the insider now owns 115,942 shares in the company, valued at $2,097,390.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.07% of the stock is currently owned by corporate insiders.

Cullinan Therapeutics Stock Performance

Cullinan Therapeutics stock opened at $16.20 on Tuesday. The company’s fifty day moving average price is $17.34 and its 200 day moving average price is $19.23. The stock has a market capitalization of $933.67 million, a P/E ratio of -5.18 and a beta of -0.13. Cullinan Therapeutics, Inc. has a 1 year low of $7.64 and a 1 year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). Sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.2 EPS for the current year.

Analysts Set New Price Targets

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

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.