Cullinan Therapeutics (NASDAQ:CGEM) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Cullinan Therapeutics (NASDAQ:CGEM) from a hold rating to a sell rating in a report released on Friday.

A number of other research analysts have also commented on the stock. HC Wainwright upped their price objective on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. BTIG Research lifted their price objective on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, November 24th. New Street Research set a $26.00 target price on Cullinan Therapeutics in a research note on Thursday, November 20th. Wedbush raised their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Finally, Zacks Research raised shares of Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

Cullinan Therapeutics Stock Down 0.6%

Shares of CGEM stock opened at $12.50 on Friday. Cullinan Therapeutics has a 12 month low of $5.68 and a 12 month high of $13.33. The firm has a market cap of $738.50 million, a PE ratio of -3.78 and a beta of -0.09. The stock has a 50 day moving average of $10.71 and a 200-day moving average of $8.55.

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

Insiders Place Their Bets

In related news, insider Jeffrey Alan Jones sold 4,632 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $9.67, for a total transaction of $44,791.44. Following the completion of the sale, the insider owned 169,532 shares in the company, valued at $1,639,374.44. This trade represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nadim Ahmed sold 9,922 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $10.01, for a total transaction of $99,319.22. Following the transaction, the chief executive officer directly owned 420,699 shares of the company’s stock, valued at $4,211,196.99. This represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,420 shares of company stock worth $356,082 in the last quarter. 7.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CGEM. Signaturefd LLC boosted its stake in Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after purchasing an additional 3,607 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Cullinan Therapeutics in the third quarter valued at about $62,000. Tower Research Capital LLC TRC lifted its position in Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after buying an additional 2,523 shares in the last quarter. Inscription Capital LLC bought a new stake in Cullinan Therapeutics during the 3rd quarter worth about $67,000. Finally, Compass Ion Advisors LLC acquired a new stake in Cullinan Therapeutics in the 3rd quarter valued at about $82,000. 86.31% of the stock is owned by institutional investors and hedge funds.

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.