Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,153 shares of the company’s stock, valued at approximately $136,000.

Other large investors have also bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after purchasing an additional 872 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Cullinan Therapeutics in the second quarter valued at about $186,000. China Universal Asset Management Co. Ltd. lifted its position in Cullinan Therapeutics by 64.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock worth $187,000 after buying an additional 4,380 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Cullinan Therapeutics by 40.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,175 shares of the company’s stock worth $265,000 after acquiring an additional 4,393 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Cullinan Therapeutics by 54.1% in the 4th quarter. SG Americas Securities LLC now owns 23,201 shares of the company’s stock valued at $283,000 after acquiring an additional 8,144 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors.

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $12.51, for a total transaction of $50,040.00. Following the transaction, the insider now directly owns 95,760 shares in the company, valued at approximately $1,197,957.60. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nadim Ahmed sold 8,400 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total value of $99,708.00. Following the completion of the transaction, the chief executive officer now directly owns 263,150 shares of the company’s stock, valued at approximately $3,123,590.50. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,582 shares of company stock worth $372,097. 6.07% of the stock is currently owned by company insiders.

Cullinan Therapeutics Stock Down 2.4 %

CGEM stock opened at $10.98 on Friday. Cullinan Therapeutics, Inc. has a twelve month low of $9.50 and a twelve month high of $30.19. The company has a market cap of $639.37 million, a P/E ratio of -3.87 and a beta of -0.14. The business’s fifty day moving average is $11.74 and its 200-day moving average is $15.24.

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

Analysts Set New Price Targets

Several analysts have recently commented on CGEM shares. HC Wainwright increased their price target on shares of Cullinan Therapeutics from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group initiated coverage on Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.50.

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.