UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.19 Million Stock Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 3.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 70,911 shares of the company’s stock after acquiring an additional 2,377 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cullinan Therapeutics were worth $1,187,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. MetLife Investment Management LLC grew its position in shares of Cullinan Therapeutics by 31.3% during the 3rd quarter. MetLife Investment Management LLC now owns 29,841 shares of the company’s stock worth $500,000 after buying an additional 7,115 shares during the period. FMR LLC increased its stake in Cullinan Therapeutics by 2,898.5% in the third quarter. FMR LLC now owns 20,360 shares of the company’s stock valued at $341,000 after purchasing an additional 19,681 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Cullinan Therapeutics by 68.3% in the third quarter. The Manufacturers Life Insurance Company now owns 25,538 shares of the company’s stock valued at $428,000 after purchasing an additional 10,363 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Cullinan Therapeutics by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company’s stock worth $7,097,000 after purchasing an additional 53,328 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Cullinan Therapeutics in the 3rd quarter valued at about $293,000. 86.31% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00. Following the completion of the sale, the insider now directly owns 107,942 shares of the company’s stock, valued at approximately $1,688,212.88. This trade represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group initiated coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Therapeutics has an average rating of “Buy” and an average price target of $31.67.

Cullinan Therapeutics Stock Down 2.6 %

Shares of Cullinan Therapeutics stock opened at $11.49 on Wednesday. Cullinan Therapeutics, Inc. has a 52 week low of $8.02 and a 52 week high of $30.19. The business has a 50 day moving average price of $14.57 and a 200-day moving average price of $16.84. The company has a market cap of $669.04 million, a PE ratio of -4.05 and a beta of -0.18.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. As a group, research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current 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.