Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 67.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,802 shares of the company’s stock after acquiring an additional 1,525 shares during the period. Federated Hermes Inc.’s holdings in Cullinan Therapeutics were worth $46,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. KLP Kapitalforvaltning AS purchased a new stake in Cullinan Therapeutics in the fourth quarter valued at $83,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Cullinan Therapeutics during the fourth quarter worth about $136,000. China Universal Asset Management Co. Ltd. raised its position in Cullinan Therapeutics by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock valued at $150,000 after acquiring an additional 1,195 shares in the last quarter. New York State Common Retirement Fund lifted its holdings 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 valued at $157,000 after acquiring an additional 3,200 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Cullinan Therapeutics in the 4th quarter worth approximately $179,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the transaction, the chief executive officer now owns 430,621 shares of the company’s stock, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Alan Jones sold 4,895 shares of Cullinan Therapeutics stock in a transaction on 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 in the company, valued at approximately $1,485,618.92. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. 6.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CGEM has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $35.00 target price (down from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Therapeutics presently has an average rating of “Buy” and an average price target of $34.80.

Cullinan Therapeutics Stock Up 3.7 %

Shares of NASDAQ CGEM opened at $7.89 on Friday. The firm has a market cap of $461.67 million, a price-to-earnings ratio of -2.78 and a beta of -0.05. The company’s 50-day simple moving average is $8.36 and its 200-day simple moving average is $11.48. Cullinan Therapeutics, Inc. has a 52-week low of $6.85 and a 52-week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.02. Equities research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

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.