UBS Group AG Acquires 83,551 Shares of Cullinan Therapeutics, Inc. $CGEM

UBS Group AG increased its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 44.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 271,736 shares of the company’s stock after buying an additional 83,551 shares during the period. UBS Group AG’s holdings in Cullinan Therapeutics were worth $2,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Lynx1 Capital Management LP grew its holdings in shares of Cullinan Therapeutics by 31.0% in the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after acquiring an additional 1,365,248 shares in the last quarter. Blue Owl Capital Holdings LP grew its holdings in shares of Cullinan Therapeutics by 5.2% in the third quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company’s stock valued at $14,890,000 after acquiring an additional 125,000 shares in the last quarter. Bank of America Corp DE lifted its stake in Cullinan Therapeutics by 26.1% in the second quarter. Bank of America Corp DE now owns 661,285 shares of the company’s stock valued at $4,979,000 after purchasing an additional 136,900 shares during the last quarter. Marshall Wace LLP lifted its stake in Cullinan Therapeutics by 10.3% in the second quarter. Marshall Wace LLP now owns 626,581 shares of the company’s stock valued at $4,718,000 after purchasing an additional 58,582 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Cullinan Therapeutics by 7.8% in the third quarter. Millennium Management LLC now owns 550,471 shares of the company’s stock valued at $3,264,000 after purchasing an additional 39,643 shares during the last quarter. 86.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CGEM has been the topic of several research analyst reports. Wedbush upped their price objective on Cullinan Therapeutics from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research downgraded Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Citigroup initiated coverage on Cullinan Therapeutics in a research note on Tuesday, February 17th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Guggenheim initiated coverage on Cullinan Therapeutics in a research note on Monday, February 2nd. They issued a “buy” rating and a $30.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Insider Activity

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.62, for a total transaction of $116,960.00. Following the sale, the insider owned 166,844 shares in the company, valued at $2,439,259.28. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 17,780 shares of company stock worth $267,569 in the last quarter. Corporate insiders own 8.60% of the company’s stock.

Cullinan Therapeutics Stock Performance

Cullinan Therapeutics stock opened at $13.84 on Tuesday. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $16.74. The business’s 50 day simple moving average is $14.19 and its 200 day simple moving average is $12.42. The company has a market cap of $850.61 million, a price-to-earnings ratio of -4.12 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.09. As a group, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.07 earnings per share for the current fiscal 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.