Springhill Fund Asset Management HK Co Ltd Purchases New Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 276,400 shares of the company’s stock, valued at approximately $3,367,000. Cullinan Therapeutics makes up approximately 5.5% of Springhill Fund Asset Management HK Co Ltd’s holdings, making the stock its 10th largest position. Springhill Fund Asset Management HK Co Ltd owned approximately 0.47% of Cullinan Therapeutics at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Cullinan Therapeutics by 68.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 25,538 shares of the company’s stock valued at $428,000 after purchasing an additional 10,363 shares during the last quarter. FMR LLC boosted its position in Cullinan Therapeutics by 2,898.5% in the third quarter. FMR LLC now owns 20,360 shares of the company’s stock valued at $341,000 after buying an additional 19,681 shares in the last quarter. MetLife Investment Management LLC boosted its position in Cullinan Therapeutics by 31.3% in the third quarter. MetLife Investment Management LLC now owns 29,841 shares of the company’s stock valued at $500,000 after buying an additional 7,115 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cullinan Therapeutics by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock worth $1,187,000 after buying an additional 2,377 shares during the last quarter. 86.31% of the stock is owned by institutional investors.

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction that occurred 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 directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Michaelson sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $12.51, for a total value of $50,040.00. Following the completion of the transaction, the insider now directly owns 95,760 shares in the company, valued at approximately $1,197,957.60. This trade represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,424 shares of company stock worth $198,667 over the last three months. 6.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and set a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $33.00 price target on shares of Cullinan Therapeutics in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.86.

Cullinan Therapeutics Trading Down 1.1 %

NASDAQ CGEM opened at $7.41 on Friday. The firm has a market capitalization of $433.58 million, a PE ratio of -2.61 and a beta of -0.05. The business’s 50-day moving average price is $9.02 and its two-hundred day moving average price is $12.23. Cullinan Therapeutics, Inc. has a 12 month low of $7.11 and a 12 month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.02. As a group, analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal 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.