111,049 Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Acquired by Kennedy Capital Management LLC

Kennedy Capital Management LLC acquired a new position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 111,049 shares of the company's stock, valued at approximately $1,353,000. Kennedy Capital Management LLC owned about 0.19% of Cullinan Therapeutics at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. lifted its position in Cullinan Therapeutics by 67.0% during the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after acquiring an additional 1,525 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Cullinan Therapeutics during the 4th quarter valued at approximately $83,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Cullinan Therapeutics in the 4th quarter valued at approximately $136,000. China Universal Asset Management Co. Ltd. increased its position in Cullinan Therapeutics by 10.7% in 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 period. Finally, New York State Common Retirement Fund increased its position in Cullinan Therapeutics by 32.9% in the 4th 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. 86.31% of the stock is owned by institutional investors.

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,895 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $41,754.35. Following the transaction, the insider now directly owns 174,164 shares in the company, valued at approximately $1,485,618.92. This represents a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the transaction, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.07% of the company's stock.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ:CGEM traded up $0.28 during midday trading on Friday, reaching $7.89. 694,937 shares of the company's stock were exchanged, compared to its average volume of 648,111. Cullinan Therapeutics, Inc. has a 12 month low of $6.85 and a 12 month high of $30.19. The firm has a market capitalization of $461.67 million, a PE ratio of -2.78 and a beta of -0.05. The company's 50 day simple moving average is $8.36 and its two-hundred day simple moving average is $11.45.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.02. On average, research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CGEM. Morgan Stanley restated an "overweight" rating and issued a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. HC Wainwright restated a "buy" rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $34.80.

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.