Cullinan Therapeutics (NASDAQ:CGEM) Coverage Initiated by Analysts at Guggenheim

Guggenheim began coverage on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a report published on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $30.00 price objective on the stock.

A number of other research analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th. HC Wainwright upped their price objective on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. New Street Research set a $26.00 target price on Cullinan Therapeutics in a research report on Thursday, November 20th. Finally, Zacks Research upgraded Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Cullinan Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $28.88.

Cullinan Therapeutics Trading Up 3.9%

Cullinan Therapeutics stock opened at $13.21 on Monday. The company has a 50-day moving average price of $11.06 and a 200 day moving average price of $8.79. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $13.43. The stock has a market cap of $780.45 million, a P/E ratio of -3.99 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.18. As a group, analysts forecast that Cullinan Therapeutics will post -3.04 EPS for the current year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,632 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $9.67, for a total value of $44,791.44. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nadim Ahmed sold 9,922 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $10.01, for a total value of $99,319.22. Following the transaction, the chief executive officer directly owned 420,699 shares of the company’s stock, valued at approximately $4,211,196.99. This represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 33,420 shares of company stock valued at $356,082. Corporate insiders own 6.07% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in shares of Cullinan Therapeutics by 1,665.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,685 shares of the company’s stock valued at $1,054,000 after purchasing an additional 167,623 shares during the last quarter. Voss Capital LP grew its stake in Cullinan Therapeutics by 43.8% during the 2nd quarter. Voss Capital LP now owns 251,717 shares of the company’s stock worth $1,895,000 after buying an additional 76,717 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Cullinan Therapeutics during the 2nd quarter worth approximately $84,000. Franklin Resources Inc. increased its position in Cullinan Therapeutics by 0.4% during the second quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock worth $16,778,000 after buying an additional 8,399 shares during the period. Finally, Tema Etfs LLC lifted its stake in Cullinan Therapeutics by 9.0% in the second quarter. Tema Etfs LLC now owns 42,692 shares of the company’s stock valued at $321,000 after buying an additional 3,528 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.