EntryPoint Capital LLC Invests $179,000 in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

EntryPoint Capital LLC acquired a new stake in Cullinan Therapeutics, Inc. (NASDAQ:CGEM) during the fourth quarter, Holdings Channel reports. The firm acquired 14,657 shares of the company’s stock, valued at approximately $179,000.

Other institutional investors have also added to or reduced their stakes in the company. RTW Investments LP increased its stake in shares of Cullinan Therapeutics by 62.1% in the third quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock worth $28,558,000 after purchasing an additional 653,330 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Cullinan Therapeutics by 43.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock valued at $374,000 after buying an additional 9,385 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cullinan Therapeutics by 25.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock valued at $487,000 after acquiring an additional 5,842 shares during the period. Geode Capital Management LLC lifted its position in shares of Cullinan Therapeutics by 23.8% during the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock worth $20,233,000 after acquiring an additional 231,935 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cullinan Therapeutics by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company’s stock worth $7,097,000 after acquiring an additional 53,328 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CGEM. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a research report on Friday, February 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $32.86.

Cullinan Therapeutics Stock Down 3.3 %

Shares of NASDAQ CGEM opened at $8.02 on Friday. The stock’s 50-day simple moving average is $9.31 and its two-hundred day simple moving average is $12.58. Cullinan Therapeutics, Inc. has a twelve month low of $7.90 and a twelve month high of $30.19. The firm has a market capitalization of $469.27 million, a P/E ratio of -2.82 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.02. As a group, research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Insider Transactions at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 4,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $12.51, for a total value 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. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nadim Ahmed sold 12,529 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $106,872.37. Following the sale, the chief executive officer now owns 430,621 shares in the company, valued at $3,673,197.13. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,424 shares of company stock valued at $198,667 in the last quarter. 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.