Citigroup Inc. Raises Stake in Cullinan Oncology, Inc. (NASDAQ:CGEM)

Citigroup Inc. lifted its position in Cullinan Oncology, Inc. (NASDAQ:CGEMFree Report) by 186.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,534 shares of the company’s stock after purchasing an additional 15,308 shares during the period. Citigroup Inc. owned about 0.06% of Cullinan Oncology worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of CGEM. Public Employees Retirement System of Ohio bought a new position in shares of Cullinan Oncology in the second quarter worth about $53,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cullinan Oncology by 1,331.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,542 shares of the company’s stock valued at $59,000 after buying an additional 6,085 shares in the last quarter. Point72 Middle East FZE bought a new stake in shares of Cullinan Oncology during the second quarter valued at approximately $59,000. Royal Bank of Canada lifted its holdings in shares of Cullinan Oncology by 499.8% in the second quarter. Royal Bank of Canada now owns 8,991 shares of the company’s stock worth $97,000 after buying an additional 7,492 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Cullinan Oncology by 95.3% during the second quarter. Wells Fargo & Company MN now owns 9,078 shares of the company’s stock worth $98,000 after acquiring an additional 4,430 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Oncology Trading Down 3.9 %

Shares of NASDAQ CGEM opened at $17.04 on Friday. The stock has a market capitalization of $733.91 million, a price-to-earnings ratio of -4.62 and a beta of 0.34. Cullinan Oncology, Inc. has a 12-month low of $7.64 and a 12-month high of $19.68. The firm’s 50-day moving average price is $16.68 and its 200-day moving average price is $11.84.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wedbush began coverage on shares of Cullinan Oncology in a report on Thursday, February 15th. They set an “outperform” rating and a $30.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Cullinan Oncology in a research note on Thursday, March 14th.

Read Our Latest Stock Analysis on CGEM

Insiders Place Their Bets

In other news, insider Corrine Savill sold 18,684 shares of Cullinan Oncology stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $12.14, for a total value of $226,823.76. Following the completion of the transaction, the insider now owns 165,990 shares in the company, valued at approximately $2,015,118.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 98,684 shares of company stock valued at $1,437,624 over the last ninety days. 8.82% of the stock is owned by insiders.

About Cullinan Oncology

(Free Report)

Cullinan Oncology, 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.

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Institutional Ownership by Quarter for Cullinan Oncology (NASDAQ:CGEM)

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