NEOS Investment Management LLC Has $346,000 Stock Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

NEOS Investment Management LLC boosted its stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 10.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,433 shares of the company’s stock after buying an additional 2,793 shares during the period. NEOS Investment Management LLC’s holdings in Cullinan Therapeutics were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Cullinan Therapeutics during the fourth quarter worth about $83,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Cullinan Therapeutics in the 4th quarter valued at approximately $136,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Cullinan Therapeutics by 10.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after acquiring an additional 1,195 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Cullinan Therapeutics by 32.9% in the fourth quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock valued at $157,000 after purchasing an additional 3,200 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Cullinan Therapeutics in the fourth quarter worth $179,000. Institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock opened at $7.57 on Tuesday. Cullinan Therapeutics, Inc. has a 52-week low of $7.30 and a 52-week high of $30.19. The stock has a market cap of $442.94 million, a price-to-earnings ratio of -2.67 and a beta of -0.12. The firm’s 50-day moving average is $9.26 and its 200-day moving average is $12.47.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. Sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jeffrey Alan Jones sold 4,895 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $41,754.35. Following the completion of the sale, the insider now owns 174,164 shares of the company’s stock, valued at approximately $1,485,618.92. The trade was a 2.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $12.51, for a total transaction 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 represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,424 shares of company stock worth $198,667 over the last ninety days. Insiders own 6.07% of the company’s stock.

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.