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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $28.7143.

A number of research firms recently issued reports on CGEM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research note on Monday, December 29th. Wedbush lifted their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Wall Street Zen upgraded Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. New Street Research set a $26.00 price objective on shares of Cullinan Therapeutics in a research report on Thursday, November 20th. Finally, Zacks Research raised shares of Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st.

Cullinan Therapeutics Stock Up 0.3%

Shares of NASDAQ:CGEM opened at $11.96 on Friday. The firm has a market capitalization of $706.60 million, a PE ratio of -3.61 and a beta of -0.09. The company has a 50-day moving average price of $11.03 and a two-hundred day moving average price of $8.70. Cullinan Therapeutics has a twelve month low of $5.68 and a twelve month high of $13.33.

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

Insiders Place Their Bets

In related news, insider Jacquelyn L. Sumer sold 3,480 shares of Cullinan Therapeutics stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $9.67, for a total transaction of $33,651.60. Following the completion of the sale, the insider owned 135,432 shares of the company’s stock, valued at approximately $1,309,627.44. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $99,319.22. Following the sale, the chief executive officer owned 420,699 shares of the company’s stock, valued at approximately $4,211,196.99. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,420 shares of company stock worth $356,082. 7.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds have recently added to or reduced their stakes in CGEM. CWM LLC increased its position in shares of Cullinan Therapeutics by 51.5% during the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after purchasing an additional 1,318 shares during the last quarter. 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 buying an additional 3,607 shares in the last quarter. SG Americas Securities LLC bought a new position in Cullinan Therapeutics during the third quarter valued at approximately $62,000. Tower Research Capital LLC TRC grew its position in Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after acquiring an additional 2,523 shares during the last quarter. Finally, Inscription Capital LLC purchased a new position in shares of Cullinan Therapeutics during the third quarter worth approximately $67,000. Institutional investors 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.