27,477 Shares in Cullinan Therapeutics, Inc. $CGEM Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) in the second quarter, Holdings Channel reports. The fund acquired 27,477 shares of the company’s stock, valued at approximately $500,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cullinan Therapeutics during the first quarter valued at $163,000. Jane Street Group LLC increased its holdings in shares of Cullinan Therapeutics by 145.9% in the 1st quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock worth $260,000 after acquiring an additional 109,413 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Cullinan Therapeutics in the 1st quarter worth about $618,000. Creative Planning lifted its position in Cullinan Therapeutics by 222.2% in the 2nd quarter. Creative Planning now owns 41,723 shares of the company’s stock valued at $314,000 after purchasing an additional 28,773 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Cullinan Therapeutics by 122.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 97,069 shares of the company’s stock valued at $731,000 after purchasing an additional 53,522 shares during the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Trading Down 1.8%

Shares of NASDAQ:CGEM opened at $21.69 on Wednesday. The company has a 50 day moving average of $19.25 and a 200-day moving average of $16.27. The firm has a market cap of $1.40 billion, a P/E ratio of -7.00 and a beta of 0.02. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $23.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). Equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CGEM shares. TD Cowen upgraded shares of Cullinan Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Wedbush boosted their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. BTIG Research increased their price objective on Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.86.

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total transaction of $607,800.00. Following the completion of the transaction, the insider directly owned 162,844 shares of the company’s stock, valued at approximately $3,299,219.44. This trade represents a 15.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

Cullinan Therapeutics 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.