Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives Average Rating of “Moderate Buy” from Analysts

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $32.8571.

CGEM has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. BTIG Research lifted their price target on Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Wedbush boosted their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th.

Cullinan Therapeutics Price Performance

Shares of CGEM opened at $20.59 on Thursday. Cullinan Therapeutics has a 1-year low of $5.68 and a 1-year high of $21.22. The stock has a market cap of $1.33 billion, a PE ratio of -6.64 and a beta of 0.01. The firm has a fifty day moving average price of $17.19 and a 200 day moving average price of $15.15.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.01). As a group, equities analysts expect that Cullinan Therapeutics will post -3.04 EPS for the current fiscal year.

Insider Activity at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider directly owned 162,844 shares of the company’s stock, valued at $3,299,219.44. The trade was a 15.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is owned by insiders.

Institutional Trading of Cullinan Therapeutics

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 valued at $497,000 after purchasing an additional 888 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Cullinan Therapeutics by 62.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after buying an additional 1,036 shares during the period. AlphaCentric Advisors LLC grew its holdings in shares of Cullinan Therapeutics by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock worth $286,000 after buying an additional 1,094 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Cullinan Therapeutics by 2.7% during the fourth quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company’s stock worth $489,000 after buying an additional 1,255 shares during the last quarter. Finally, CWM LLC increased its position in Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after acquiring an additional 1,318 shares during the period. Institutional investors and hedge funds own 86.31% 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.