Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $30.75 Average Price Target from Brokerages

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $30.75.

A number of research firms have weighed in on CGEM. HC Wainwright raised their price objective on shares of Cullinan Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. BTIG Research reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cullinan Therapeutics in a research note on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, April 10th. Wedbush raised their price target on shares of Cullinan Therapeutics from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Citigroup assumed coverage on shares of Cullinan Therapeutics in a research report on Tuesday, February 17th. They set a “buy” rating and a $33.00 price target on the stock.

Cullinan Therapeutics Trading Down 0.8%

Cullinan Therapeutics stock opened at $15.21 on Friday. Cullinan Therapeutics has a 1-year low of $5.68 and a 1-year high of $16.74. The firm has a market capitalization of $934.81 million, a price-to-earnings ratio of -4.53 and a beta of -0.01. The firm’s fifty day moving average price is $14.52 and its two-hundred day moving average price is $12.81.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.09. On average, research analysts forecast that Cullinan Therapeutics will post -3.07 EPS for the current year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $14.62, for a total transaction of $116,960.00. Following the transaction, the insider directly owned 166,844 shares of the company’s stock, valued at $2,439,259.28. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cullinan Therapeutics by 1.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,051 shares of the company’s stock worth $497,000 after acquiring an additional 888 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after acquiring an additional 1,036 shares during the period. AlphaCentric Advisors LLC raised its position in Cullinan Therapeutics by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock worth $286,000 after acquiring an additional 1,094 shares during the period. Kennedy Capital Management LLC raised its position in Cullinan Therapeutics by 2.7% in the fourth quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company’s stock worth $489,000 after acquiring an additional 1,255 shares during the period. Finally, CWM LLC raised its position in Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after acquiring an additional 1,318 shares during the period. 86.31% of the stock is owned by institutional investors.

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.