Mariner LLC Has $425,000 Stock Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Mariner LLC lifted its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 125.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,901 shares of the company’s stock after buying an additional 19,411 shares during the quarter. Mariner LLC owned about 0.06% of Cullinan Therapeutics worth $425,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. raised its stake in Cullinan Therapeutics by 67.0% in the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock worth $46,000 after purchasing an additional 1,525 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at approximately $83,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at approximately $136,000. Optimize Financial Inc acquired a new stake in Cullinan Therapeutics during the fourth quarter worth approximately $143,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Cullinan Therapeutics by 10.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after acquiring an additional 1,195 shares during the period. Institutional investors own 86.31% of the company’s stock.

Analyst Ratings Changes

CGEM has been the topic of several analyst reports. Morgan Stanley reissued an “overweight” rating and set a $35.00 target price (down from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Therapeutics has an average rating of “Buy” and an average target price of $33.50.

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the sale, the chief executive officer now directly owns 430,621 shares of the company’s stock, valued at $3,673,197.13. The trade was a 2.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $41,754.35. Following the completion of the transaction, the insider now owns 174,164 shares of the company’s stock, valued at approximately $1,485,618.92. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Stock Performance

Cullinan Therapeutics stock opened at $8.79 on Friday. The stock has a fifty day moving average of $8.16 and a 200-day moving average of $10.97. The stock has a market capitalization of $518.74 million, a P/E ratio of -3.10 and a beta of -0.05. Cullinan Therapeutics, Inc. has a 52 week low of $6.85 and a 52 week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. On average, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share 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.