Harbor Capital Advisors Inc. Grows Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Harbor Capital Advisors Inc. increased its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 22.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,362 shares of the company’s stock after purchasing an additional 3,881 shares during the period. Harbor Capital Advisors Inc.’s holdings in Cullinan Therapeutics were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in Cullinan Therapeutics by 757.2% in the second quarter. SG Americas Securities LLC now owns 85,172 shares of the company’s stock valued at $1,485,000 after purchasing an additional 75,236 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Cullinan Therapeutics by 2,416.9% during the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock worth $20,650,000 after buying an additional 1,136,993 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Cullinan Therapeutics in the 2nd quarter valued at $1,305,000. Bank of New York Mellon Corp grew its position in shares of Cullinan Therapeutics by 46.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,997 shares of the company’s stock valued at $2,407,000 after buying an additional 43,757 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Cullinan Therapeutics by 22.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock worth $294,000 after acquiring an additional 3,134 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Down 5.5 %

NASDAQ CGEM opened at $15.58 on Friday. The firm has a market cap of $903.33 million, a P/E ratio of -5.09 and a beta of -0.12. Cullinan Therapeutics, Inc. has a 52-week low of $7.64 and a 52-week high of $30.19. The business’s 50-day moving average price is $16.90 and its 200 day moving average price is $19.11.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.02). As a group, analysts anticipate that Cullinan Therapeutics, Inc. will post -3.2 earnings per share for the current year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $15.64, for a total value of $125,120.00. Following the transaction, the insider now directly owns 107,942 shares of the company’s stock, valued at approximately $1,688,212.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wedbush restated an “outperform” rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. UBS Group initiated coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.67.

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.