Virtus ETF Advisers LLC Increases Stock Holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

Virtus ETF Advisers LLC increased its holdings in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) by 37.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,828 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Cullinan Therapeutics were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in Cullinan Therapeutics by 43.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock worth $374,000 after acquiring an additional 9,385 shares during the period. JPMorgan Chase & Co. lifted its position in Cullinan Therapeutics by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock valued at $487,000 after buying an additional 5,842 shares during the period. Barclays PLC lifted its position in Cullinan Therapeutics by 26.0% during the third quarter. Barclays PLC now owns 248,614 shares of the company’s stock valued at $4,161,000 after buying an additional 51,300 shares during the period. New York State Common Retirement Fund lifted its position in Cullinan Therapeutics by 32.9% during the fourth quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock valued at $157,000 after buying an additional 3,200 shares during the period. Finally, Rhumbline Advisers lifted its position in Cullinan Therapeutics by 8.5% during the fourth quarter. Rhumbline Advisers now owns 68,208 shares of the company’s stock valued at $831,000 after buying an additional 5,348 shares during the period. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Insider Activity at Cullinan Therapeutics

In other news, insider Jeffrey Alan Jones sold 4,895 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the transaction, the insider now directly owns 174,164 shares of the company’s stock, valued at $1,485,618.92. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the transaction, the chief executive officer now owns 430,621 shares of the company’s stock, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.07% of the stock is owned by insiders.

Cullinan Therapeutics Stock Performance

NASDAQ:CGEM opened at $7.76 on Tuesday. The firm has a 50-day simple moving average of $8.20 and a two-hundred day simple moving average of $11.12. The firm has a market cap of $454.06 million, a P/E ratio of -2.73 and a beta of -0.05. Cullinan Therapeutics, Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. On average, equities research analysts predict that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CGEM shares. Morgan Stanley reissued an “overweight” rating and set a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $34.80.

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.