74,856 Shares in Cullinan Therapeutics, Inc. $CGEM Purchased by Ellsworth Advisors LLC

Ellsworth Advisors LLC purchased a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the 3rd quarter, Holdings Channel reports. The firm purchased 74,856 shares of the company’s stock, valued at approximately $1,149,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $95,289,000. Blue Owl Capital Holdings LP acquired a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at $28,039,000. Dimensional Fund Advisors LP lifted its position in shares of Cullinan Therapeutics by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company’s stock worth $12,870,000 after purchasing an additional 57,259 shares during the last quarter. Boone Capital Management LLC purchased a new stake in shares of Cullinan Therapeutics during the 2nd quarter worth $12,828,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Cullinan Therapeutics during the fourth quarter worth $12,803,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Insider Activity

In related news, insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider directly owned 162,844 shares of the company’s stock, valued at $3,299,219.44. This trade represents a 15.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CGEM. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Cullinan Therapeutics in a report on Friday, October 2nd. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. BTIG Research reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cullinan Therapeutics in a research report on Friday, September 25th. Finally, Wedbush upped their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cullinan Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $33.71.

Cullinan Therapeutics Stock Up 2.6%

Shares of Cullinan Therapeutics stock opened at $14.00 on Friday. The firm has a market capitalization of $901.04 million, a P/E ratio of -4.52 and a beta of -0.05. Cullinan Therapeutics, Inc. has a 52 week low of $6.73 and a 52 week high of $23.19. The firm’s 50 day moving average is $19.13 and its two-hundred day moving average is $16.86.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). As a group, research analysts expect that Cullinan Therapeutics, Inc. will post -3.06 earnings per share for the current fiscal year.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer and autoimmune diseases. The company uses a portfolio-based approach to advance targeted therapies and immune-modulating treatments intended to address significant unmet medical needs.

Cullinan’s pipeline includes zovoltamab brengitecan (CLN-978), an investigational CD19-directed T-cell engager being studied in B-cell malignancies and autoimmune conditions, and CLN-619, an investigational antibody designed to target MICA and MICB proteins and stimulate anti-tumor immune responses.