CenterBook Partners LP Has $536,000 Stock Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

CenterBook Partners LP cut its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 85.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 43,987 shares of the company's stock after selling 254,679 shares during the period. CenterBook Partners LP owned about 0.08% of Cullinan Therapeutics worth $536,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CGEM. Federated Hermes Inc. boosted its stake in Cullinan Therapeutics by 67.0% in the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock valued at $46,000 after acquiring an additional 1,525 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Cullinan Therapeutics in the 4th quarter worth approximately $83,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Cullinan Therapeutics during the 4th quarter valued at approximately $136,000. China Universal Asset Management Co. Ltd. grew its stake in Cullinan Therapeutics by 10.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company's stock worth $150,000 after buying an additional 1,195 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Cullinan Therapeutics by 32.9% in the fourth quarter. New York State Common Retirement Fund now owns 12,918 shares of the company's stock worth $157,000 after buying an additional 3,200 shares during the period. Institutional investors own 86.31% of the company's stock.

Analysts Set New Price Targets

CGEM has been the subject of several analyst reports. HC Wainwright reissued a "buy" rating and set a $33.00 price target on shares of Cullinan Therapeutics in a report on Wednesday. Morgan Stanley reiterated an "overweight" rating and set a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Eight equities research 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.

Cullinan Therapeutics Trading Up 0.9 %

NASDAQ:CGEM traded up $0.07 during midday trading on Thursday, hitting $7.68. 184,521 shares of the stock were exchanged, compared to its average volume of 650,873. Cullinan Therapeutics, Inc. has a one year low of $6.85 and a one year high of $30.19. The company has a market capitalization of $449.09 million, a price-to-earnings ratio of -2.71 and a beta of -0.05. The business has a 50-day moving average price of $8.45 and a two-hundred day moving average price of $11.63.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02. Sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jeffrey Alan Jones sold 4,895 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 $41,754.35. Following the transaction, the insider now 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 the business's 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 sale, the chief executive officer now owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. 6.07% of the stock is owned by corporate insiders.

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.