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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has received an average rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $30.00.

A number of equities analysts have commented on CGEM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, April 10th. Wedbush upped their price target on Cullinan Therapeutics from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday. BTIG Research reaffirmed a “buy” rating and set a $38.00 price target on shares of Cullinan Therapeutics in a research note on Monday, May 4th. HC Wainwright upped their price target on Cullinan Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Citigroup began coverage on Cullinan Therapeutics in a research note on Tuesday, February 17th. They set a “buy” rating and a $33.00 price target on the stock.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 11,742 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $14.08, for a total transaction of $165,327.36. Following the transaction, the insider owned 181,977 shares of the company’s stock, valued at $2,562,236.16. This represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nadim Ahmed sold 16,381 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $13.62, for a total value of $223,109.22. Following the transaction, the chief executive officer directly owned 404,318 shares in the company, valued at $5,506,811.16. This trade represents a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 86,492 shares of company stock valued at $1,230,319 over the last ninety days. Company insiders own 7.16% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its stake in Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after buying an additional 1,036 shares during the period. Seven Fleet Capital Management LP acquired a new position in Cullinan Therapeutics in the fourth quarter valued at about $31,000. CWM LLC lifted its stake in Cullinan Therapeutics by 51.5% in the fourth 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 period. Signaturefd LLC lifted its stake in Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after buying an additional 3,607 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after buying an additional 2,523 shares during the period. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Performance

Cullinan Therapeutics stock opened at $14.55 on Tuesday. The firm has a market cap of $894.10 million, a P/E ratio of -4.33 and a beta of -0.09. The business’s fifty day moving average is $14.27 and its two-hundred day moving average is $11.84. Cullinan Therapeutics has a 52 week low of $5.68 and a 52 week high of $16.74.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.09. On average, equities research analysts predict that Cullinan Therapeutics will post -3.03 earnings per share for the current year.

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.