Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $32.00 Average Target Price from Analysts

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has received an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $32.00.

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a research report on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, April 10th. Wedbush restated an “outperform” rating and issued a $37.00 price objective on shares of Cullinan Therapeutics in a research note on Thursday, June 11th. Finally, BTIG Research restated a “buy” rating and issued a $38.00 price objective on shares of Cullinan Therapeutics in a research note on Tuesday, May 19th.

Insider Activity

In other news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $14.62, for a total value of $116,960.00. Following the sale, the insider owned 166,844 shares in the company, valued at approximately $2,439,259.28. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Affinity Asset Advisors LLC boosted its stake in shares of Cullinan Therapeutics by 632.4% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock valued at $19,997,000 after purchasing an additional 1,668,289 shares in the last quarter. Lynx1 Capital Management LP boosted its stake in shares of Cullinan Therapeutics by 31.0% in the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after purchasing an additional 1,365,248 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Cullinan Therapeutics in the 4th quarter valued at $12,803,000. State Street Corp boosted its stake in shares of Cullinan Therapeutics by 31.0% in the 4th quarter. State Street Corp now owns 2,197,338 shares of the company’s stock valued at $22,742,000 after purchasing an additional 520,024 shares in the last quarter. Finally, Caption Management LLC boosted its stake in shares of Cullinan Therapeutics by 107.0% in the 3rd quarter. Caption Management LLC now owns 28,389 shares of the company’s stock valued at $168,000 after purchasing an additional 435,062 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $18.40 on Wednesday. The firm has a market cap of $1.13 billion, a PE ratio of -5.48 and a beta of -0.01. The firm’s 50 day moving average price is $14.75 and its 200 day moving average price is $13.35. Cullinan Therapeutics has a twelve month low of $5.68 and a twelve month high of $19.43.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.09. On average, sell-side analysts anticipate that Cullinan Therapeutics will post -3.06 earnings per share for the current fiscal year.

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.