Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Purchased by Barclays PLC

Barclays PLC increased its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 26.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 248,614 shares of the company's stock after buying an additional 51,300 shares during the quarter. Barclays PLC owned about 0.43% of Cullinan Therapeutics worth $4,161,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CGEM. Bank of New York Mellon Corp boosted its holdings in shares of Cullinan Therapeutics by 46.4% in the second quarter. Bank of New York Mellon Corp now owns 137,997 shares of the company's stock valued at $2,407,000 after acquiring an additional 43,757 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company's stock worth $155,000 after purchasing an additional 3,758 shares during the period. Rhumbline Advisers grew its position in Cullinan Therapeutics by 16.4% during the 2nd quarter. Rhumbline Advisers now owns 54,351 shares of the company's stock worth $948,000 after purchasing an additional 7,649 shares during the last quarter. Arizona State Retirement System acquired a new position in Cullinan Therapeutics in the second quarter valued at $182,000. Finally, American Century Companies Inc. raised its holdings in shares of Cullinan Therapeutics by 32.9% in the second quarter. American Century Companies Inc. now owns 76,018 shares of the company's stock valued at $1,326,000 after buying an additional 18,840 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company's stock.

Wall Street Analysts Forecast Growth

CGEM has been the topic of several analyst reports. UBS Group started coverage on Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a "buy" rating and a $30.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Finally, Wedbush restated an "outperform" rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Therapeutics currently has a consensus rating of "Buy" and an average target price of $31.67.

Cullinan Therapeutics Trading Up 2.3 %

Shares of NASDAQ:CGEM traded up $0.27 on Monday, reaching $11.87. 714,785 shares of the company were exchanged, compared to its average volume of 644,596. The company has a 50-day moving average of $14.28 and a 200-day moving average of $16.60. The firm has a market cap of $691.17 million, a price-to-earnings ratio of -4.18 and a beta of -0.18. Cullinan Therapeutics, Inc. has a 1-year low of $9.24 and a 1-year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, topping analysts' consensus estimates of ($0.78) by $0.09. As a group, analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 3,489 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28. Following the sale, the insider now owns 104,453 shares of the company's stock, valued at $1,307,751.56. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 16,182 shares of company stock valued at $222,349 over the last quarter. Corporate 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.