Cullinan Therapeutics (NASDAQ:CGEM) Stock Rating Lowered by Wall Street Zen

Cullinan Therapeutics (NASDAQ:CGEM) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Several other analysts have also weighed in on CGEM. Zacks Research raised shares of Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Guggenheim initiated coverage on Cullinan Therapeutics in a research report on Monday, February 2nd. They set a “buy” rating and a $30.00 target price for the company. New Street Research set a $26.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, November 20th. HC Wainwright increased their target price on Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Wedbush increased their target price on shares of Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.88.

Cullinan Therapeutics Stock Down 3.3%

Shares of CGEM opened at $11.83 on Friday. The stock has a market cap of $698.92 million, a price-to-earnings ratio of -3.57 and a beta of -0.09. Cullinan Therapeutics has a 12 month low of $5.68 and a 12 month high of $13.43. The company has a 50-day moving average price of $11.11 and a two-hundred day moving average price of $8.90.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jacquelyn L. Sumer sold 3,480 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $9.67, for a total value of $33,651.60. Following the completion of the transaction, the insider owned 135,432 shares in the company, valued at $1,309,627.44. This trade represents a 2.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $12.30, for a total value of $49,200.00. Following the transaction, the insider directly owned 128,635 shares of the company’s stock, valued at $1,582,210.50. This trade represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 33,420 shares of company stock valued at $356,082. Corporate insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CWM LLC grew its stake 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 buying an additional 1,318 shares during the last quarter. Signaturefd LLC raised its position in shares of Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after buying an additional 3,607 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cullinan Therapeutics during the 3rd quarter worth approximately $62,000. Tower Research Capital LLC TRC boosted its holdings in shares of Cullinan Therapeutics by 44.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after purchasing an additional 2,523 shares in the last quarter. Finally, Inscription Capital LLC bought a new position in Cullinan Therapeutics in the third quarter valued at about $67,000. 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.