Corebridge Financial Inc. Has $313,000 Stock Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Corebridge Financial Inc. decreased its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,719 shares of the company’s stock after selling 1,941 shares during the quarter. Corebridge Financial Inc.’s holdings in Cullinan Therapeutics were worth $313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Cullinan Therapeutics by 14.4% in the third 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. The Manufacturers Life Insurance Company grew its position in shares of Cullinan Therapeutics by 68.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 25,538 shares of the company’s stock valued at $428,000 after acquiring an additional 10,363 shares during the period. FMR LLC grew its position in shares of Cullinan Therapeutics by 2,898.5% in the 3rd quarter. FMR LLC now owns 20,360 shares of the company’s stock valued at $341,000 after acquiring an additional 19,681 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cullinan Therapeutics by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock worth $1,187,000 after purchasing an additional 2,377 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Cullinan Therapeutics by 20.4% in the 3rd quarter. State Street Corp now owns 2,337,222 shares of the company’s stock valued at $39,125,000 after purchasing an additional 396,034 shares during the period. Institutional investors own 86.31% of the company’s stock.

Wall Street Analysts Forecast Growth

CGEM has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $35.00 price target (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research note on Friday, February 28th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $32.86.

Insiders Place Their Bets

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $106,872.37. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $41,754.35. Following the sale, the insider now directly owns 174,164 shares in the company, 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. Corporate insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Stock Down 2.7 %

Shares of CGEM stock opened at $7.58 on Friday. Cullinan Therapeutics, Inc. has a 12-month low of $6.85 and a 12-month high of $30.19. The firm has a 50 day moving average price of $8.65 and a two-hundred day moving average price of $11.85. The company has a market capitalization of $443.53 million, a PE ratio of -2.67 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.02. As a group, research analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

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.