Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,318,372 shares of the company’s stock after buying an additional 295,467 shares during the period. Dimensional Fund Advisors LP’s holdings in Cullinan Therapeutics were worth $16,058,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CGEM. Barclays PLC increased its holdings in Cullinan Therapeutics by 26.0% during the 3rd quarter. Barclays PLC now owns 248,614 shares of the company’s stock valued at $4,161,000 after acquiring an additional 51,300 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cullinan Therapeutics by 25.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock worth $487,000 after purchasing an additional 5,842 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Cullinan Therapeutics by 43.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock worth $374,000 after purchasing an additional 9,385 shares during the last quarter. SG Americas Securities LLC lifted its stake 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 buying an additional 8,144 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Cullinan Therapeutics during the 4th quarter valued at $136,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $7.79 on Friday. Cullinan Therapeutics, Inc. has a 1-year low of $6.85 and a 1-year high of $29.08. The business has a 50-day moving average of $8.12 and a 200-day moving average of $10.72. The company has a market capitalization of $459.55 million, a PE ratio of -2.74 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. On average, equities analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CGEM. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $33.50.

Insider Activity

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,895 shares of the stock in a transaction on Tuesday, February 25th. The stock was 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 directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $106,872.37. Following the transaction, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83 % 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.

About Cullinan Therapeutics

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.