Assenagon Asset Management S.A. Has $2.26 Million Position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Assenagon Asset Management S.A. grew its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 18.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 135,036 shares of the company’s stock after buying an additional 20,841 shares during the period. Assenagon Asset Management S.A. owned approximately 0.23% of Cullinan Therapeutics worth $2,261,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its position in shares of Cullinan Therapeutics by 31.0% during the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock valued at $44,000 after buying an additional 615 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Cullinan Therapeutics by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after purchasing an additional 820 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Cullinan Therapeutics by 22.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock worth $294,000 after purchasing an additional 3,134 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cullinan Therapeutics by 73.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after purchasing an additional 3,758 shares in the last quarter. Finally, Profund Advisors LLC raised its position in Cullinan Therapeutics by 26.8% in the second quarter. Profund Advisors LLC now owns 19,352 shares of the company’s stock worth $337,000 after purchasing an additional 4,089 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insider Activity

In other news, insider Jennifer Michaelson sold 8,000 shares of the 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 sale, the insider now directly owns 115,942 shares of the company’s stock, valued at $2,097,390.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.07% of the stock is owned by insiders.

Cullinan Therapeutics Trading Down 4.1 %

NASDAQ CGEM opened at $15.55 on Friday. The firm has a market cap of $901.54 million, a price-to-earnings ratio of -5.08 and a beta of -0.13. The company has a 50 day moving average of $17.16 and a 200-day moving average of $19.15. Cullinan Therapeutics, Inc. has a 1-year low of $7.64 and a 1-year high of $30.19.

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

Wall Street Analysts Forecast Growth

CGEM has been the subject of several recent research reports. 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. UBS Group initiated coverage on shares of Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $30.00 price target for the company. Finally, Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $31.67.

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.