E Fund Management Co. Ltd. Purchases New Shares in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

E Fund Management Co. Ltd. purchased a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 74,827 shares of the company’s stock, valued at approximately $1,305,000. E Fund Management Co. Ltd. owned approximately 0.13% of Cullinan Therapeutics at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in Cullinan Therapeutics by 31.0% during the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after buying an additional 615 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after buying an additional 3,758 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Cullinan Therapeutics by 81.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock worth $153,000 after buying an additional 4,042 shares during the last quarter. Arizona State Retirement System purchased a new stake in Cullinan Therapeutics during the second quarter worth about $182,000. Finally, NEOS Investment Management LLC purchased a new stake in Cullinan Therapeutics during the fourth quarter worth about $162,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, August 8th. William Blair reiterated an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research note on Monday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics currently has an average rating of “Buy” and a consensus target price of $32.00.

Insider Activity at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total transaction of $144,720.00. Following the completion of the transaction, the insider now owns 115,942 shares of the company’s stock, valued at $2,097,390.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 6.07% of the stock is owned by corporate insiders.

Cullinan Therapeutics Stock Up 1.8 %

CGEM opened at $17.24 on Wednesday. The company has a market capitalization of $993.61 million, a price-to-earnings ratio of -5.51 and a beta of -0.12. The firm has a 50-day moving average price of $18.02 and a 200-day moving average price of $19.25. Cullinan Therapeutics, Inc. has a twelve month low of $7.64 and a twelve month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted 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). On average, sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.2 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.