Barclays PLC Acquires 51,300 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Barclays PLC increased its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 26.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 248,614 shares of the company’s stock after buying an additional 51,300 shares during the period. Barclays PLC’s holdings in Cullinan Therapeutics were worth $4,161,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. RTW Investments LP lifted its position in shares of Cullinan Therapeutics by 62.1% during the third quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock worth $28,558,000 after acquiring an additional 653,330 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Cullinan Therapeutics by 2,416.9% during the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after purchasing an additional 1,136,993 shares during the period. Braidwell LP lifted its holdings in Cullinan Therapeutics by 567.6% during the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock worth $19,689,000 after purchasing an additional 1,000,000 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in Cullinan Therapeutics in the 2nd quarter worth about $1,305,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cullinan Therapeutics by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company’s stock valued at $7,097,000 after buying an additional 53,328 shares in the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $11.60 on Monday. The company has a 50 day simple moving average of $14.28 and a two-hundred day simple moving average of $16.64. The firm has a market cap of $675.44 million, a PE ratio of -4.08 and a beta of -0.18. Cullinan Therapeutics, Inc. has a 1 year low of $8.49 and a 1 year high of $30.19.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CGEM. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. UBS Group initiated coverage on shares of Cullinan Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $30.00 price target for the company. Finally, 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. Seven 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 $31.67.

Insider Activity

In other news, insider Jennifer Michaelson sold 3,489 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total value of $43,682.28. Following the completion of the sale, the insider now owns 104,453 shares of the company’s stock, valued at approximately $1,307,751.56. This represents a 3.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 16,182 shares of company stock worth $222,349. 6.07% of the stock is currently owned by insiders.

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.