Barclays PLC Acquires 51,300 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Barclays PLC lifted its holdings in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 26.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,614 shares of the company’s stock after purchasing an additional 51,300 shares during the period. Barclays PLC owned 0.43% of Cullinan Therapeutics worth $4,161,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. RTW Investments LP increased its stake in Cullinan Therapeutics by 62.1% in the third quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock valued at $28,558,000 after purchasing an additional 653,330 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Cullinan Therapeutics by 2,416.9% in the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after buying an additional 1,136,993 shares during the period. Braidwell LP increased its position in Cullinan Therapeutics by 567.6% in the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock valued at $19,689,000 after buying an additional 1,000,000 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Cullinan Therapeutics during the 2nd quarter worth approximately $1,305,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cullinan Therapeutics by 14.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company’s stock worth $7,097,000 after acquiring an additional 53,328 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CGEM. Wedbush restated an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Finally, UBS Group assumed coverage on shares of Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $31.67.

Insider Activity

In related news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00. Following the sale, the insider now directly owns 107,942 shares in the company, valued at approximately $1,688,212.88. This trade represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 16,182 shares of company stock valued at $222,349 over the last three months. Corporate insiders own 6.07% of the company’s stock.

Cullinan Therapeutics Price Performance

CGEM opened at $11.60 on Monday. Cullinan Therapeutics, Inc. has a 1 year low of $8.49 and a 1 year high of $30.19. The company has a market capitalization of $675.44 million, a price-to-earnings ratio of -4.08 and a beta of -0.18. The firm’s fifty day moving average price is $14.28 and its two-hundred day moving average price is $16.64.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data 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. As a group, equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

About Cullinan Therapeutics

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.