Assenagon Asset Management S.A. Has $1.05 Million Stock Holdings in Cullinan Therapeutics, Inc. $CGEM

Assenagon Asset Management S.A. boosted its position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 1,665.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,685 shares of the company’s stock after acquiring an additional 167,623 shares during the period. Assenagon Asset Management S.A.’s holdings in Cullinan Therapeutics were worth $1,054,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Trexquant Investment LP acquired a new stake in shares of Cullinan Therapeutics during the 1st quarter worth approximately $518,000. Wellington Management Group LLP boosted its stake in Cullinan Therapeutics by 21.1% during the first quarter. Wellington Management Group LLP now owns 161,057 shares of the company’s stock worth $1,219,000 after buying an additional 28,081 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Cullinan Therapeutics during the 1st quarter valued at about $222,000. Rhumbline Advisers raised its position in Cullinan Therapeutics by 4.6% in the first quarter. Rhumbline Advisers now owns 71,338 shares of the company’s stock worth $540,000 after purchasing an additional 3,130 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Cullinan Therapeutics during the second quarter valued at approximately $84,000. Institutional investors own 86.31% of the company’s stock.

Insider Activity

In related news, insider Jeffrey Alan Jones sold 4,632 shares of Cullinan Therapeutics stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $9.67, for a total value of $44,791.44. Following the completion of the sale, the insider directly owned 169,532 shares in the company, valued at $1,639,374.44. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lynx1 Capital Management Lp bought 626,043 shares of Cullinan Therapeutics stock in a transaction dated Thursday, October 9th. The stock was acquired at an average cost of $6.70 per share, for a total transaction of $4,194,488.10. Following the purchase, the insider directly owned 8,271,786 shares in the company, valued at approximately $55,420,966.20. The trade was a 8.19% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 1,874,057 shares of company stock valued at $13,325,286 and have sold 19,498 shares valued at $207,563. 7.16% of the stock is currently owned by insiders.

Cullinan Therapeutics Stock Up 4.7%

Shares of NASDAQ CGEM opened at $10.47 on Thursday. The company has a market cap of $618.27 million, a price-to-earnings ratio of -3.16 and a beta of -0.10. Cullinan Therapeutics, Inc. has a 12-month low of $5.68 and a 12-month high of $13.33. The firm’s 50-day simple moving average is $9.48 and its 200 day simple moving average is $8.14.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.18. On average, equities analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CGEM shares. BTIG Research increased their target price on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, November 24th. New Street Research set a $26.00 price objective on Cullinan Therapeutics in a research note on Thursday, November 20th. HC Wainwright lifted their price objective on Cullinan Therapeutics from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Wedbush upped their target price on shares of Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.29.

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.