Amalgamated Bank Buys 872 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Amalgamated Bank increased its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 97.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,768 shares of the company’s stock after acquiring an additional 872 shares during the quarter. Amalgamated Bank’s holdings in Cullinan Therapeutics were worth $30,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Deerfield Management Company L.P. Series C lifted its holdings in Cullinan Therapeutics by 188.1% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company’s stock worth $57,207,000 after buying an additional 2,141,706 shares in the last quarter. Marshall Wace LLP raised its position in shares of Cullinan Therapeutics by 2,416.9% during the second quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock worth $20,650,000 after acquiring an additional 1,136,993 shares during the last quarter. Perceptive Advisors LLC acquired a new position in shares of Cullinan Therapeutics during the second quarter valued at $13,079,000. Lynx1 Capital Management LP bought a new position in Cullinan Therapeutics in the second quarter valued at about $6,581,000. Finally, Ensign Peak Advisors Inc bought a new position in Cullinan Therapeutics in the second quarter valued at about $2,595,000. 86.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider Jennifer Michaelson sold 8,000 shares of the company’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 completion of the transaction, the insider now directly owns 107,942 shares of the company’s stock, valued at approximately $1,688,212.88. This represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.07% of the stock is owned by company insiders.

Cullinan Therapeutics Trading Down 3.0 %

Cullinan Therapeutics stock opened at $13.45 on Tuesday. The firm has a market capitalization of $783.19 million, a P/E ratio of -4.74 and a beta of -0.12. The business has a 50-day moving average of $16.44 and a 200-day moving average of $18.69. Cullinan Therapeutics, Inc. has a 1 year low of $7.64 and a 1 year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.09. Research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.12 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.