Rafferty Asset Management LLC Sells 25,012 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Rafferty Asset Management LLC decreased its position in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 21.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,658 shares of the company’s stock after selling 25,012 shares during the quarter. Rafferty Asset Management LLC owned 0.15% of Cullinan Therapeutics worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in Cullinan Therapeutics by 31.2% in the 4th quarter. ProShare Advisors LLC now owns 17,326 shares of the company’s stock worth $211,000 after acquiring an additional 4,124 shares during the last quarter. Patient Square Capital LP increased its position in shares of Cullinan Therapeutics by 6.6% during the 4th quarter. Patient Square Capital LP now owns 878,897 shares of the company’s stock valued at $10,705,000 after purchasing an additional 54,192 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cullinan Therapeutics by 22.0% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,095 shares of the company’s stock valued at $683,000 after purchasing an additional 10,120 shares during the last quarter. Orbimed Advisors LLC increased its position in shares of Cullinan Therapeutics by 81.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company’s stock valued at $23,660,000 after purchasing an additional 872,500 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Cullinan Therapeutics by 5.8% during the 4th quarter. Millennium Management LLC now owns 833,962 shares of the company’s stock valued at $10,158,000 after purchasing an additional 45,395 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

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 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $106,872.37. Following the completion of the sale, the chief executive officer now owns 430,621 shares of the company’s stock, valued at $3,673,197.13. This represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CGEM shares. Morgan Stanley reissued an “overweight” rating and set a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Finally, UBS Group cut their target price on Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $32.00.

Cullinan Therapeutics Stock Down 0.4%

CGEM opened at $7.87 on Thursday. The business has a fifty day moving average of $7.94 and a 200 day moving average of $10.20. Cullinan Therapeutics, Inc. has a 52-week low of $6.85 and a 52-week high of $24.99. The stock has a market cap of $464.45 million, a P/E ratio of -2.77 and a beta of -0.07.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. Equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

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.