Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Purchased by RTW Investments LP

RTW Investments LP increased its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) by 62.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,705,960 shares of the company's stock after acquiring an additional 653,330 shares during the period. RTW Investments LP owned about 2.93% of Cullinan Therapeutics worth $28,558,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Amalgamated Bank boosted its stake in shares of Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company's stock valued at $30,000 after purchasing an additional 872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cullinan Therapeutics by 73.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company's stock worth $155,000 after acquiring an additional 3,758 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of Cullinan Therapeutics during the second quarter worth approximately $182,000. Squarepoint Ops LLC bought a new stake in shares of Cullinan Therapeutics during the second quarter valued at approximately $186,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cullinan Therapeutics by 64.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company's stock valued at $187,000 after purchasing an additional 4,380 shares during the period. Hedge funds and other institutional investors own 86.31% of the company's stock.

Insider Transactions at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total value of $125,120.00. Following the completion of the transaction, the insider now owns 107,942 shares in the company, valued at $1,688,212.88. The trade was a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.07% of the company's stock.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock traded down $0.24 during trading hours on Thursday, hitting $12.72. 241,061 shares of the stock traded hands, compared to its average volume of 648,528. Cullinan Therapeutics, Inc. has a 1 year low of $7.64 and a 1 year high of $30.19. The stock has a market capitalization of $740.69 million, a price-to-earnings ratio of -4.41 and a beta of -0.18. The firm's 50 day moving average price is $15.34 and its 200-day moving average price is $17.58.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CGEM shares. HC Wainwright reaffirmed a "buy" rating and set a $28.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. UBS Group initiated coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Wedbush reiterated an "outperform" rating and set a $36.00 target price on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of "Buy" and an average target price of $31.67.

Cullinan Therapeutics 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.