Cullinan Therapeutics (NASDAQ:CGEM) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a research note published on Friday morning, Benzinga reports. They currently have a $28.00 price objective on the stock.

Other equities analysts have also issued reports about the company. BTIG Research increased their price objective on Cullinan Therapeutics from $20.00 to $30.00 and gave the company a buy rating in a report on Wednesday, April 17th. Jonestrading lifted their target price on shares of Cullinan Therapeutics from $22.00 to $26.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. William Blair initiated coverage on shares of Cullinan Therapeutics in a report on Monday, April 15th. They issued an outperform rating for the company. Wedbush reissued an outperform rating and set a $36.00 target price on shares of Cullinan Therapeutics in a report on Thursday, May 16th. Finally, Stifel Nicolaus started coverage on Cullinan Therapeutics in a research report on Wednesday, May 1st. They set a buy rating and a $40.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $32.00.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $24.13 on Friday. The firm has a market cap of $1.39 billion, a PE ratio of -7.71 and a beta of -0.01. Cullinan Therapeutics has a 1 year low of $7.64 and a 1 year high of $30.19. The stock has a fifty day moving average price of $20.75 and a 200-day moving average price of $15.48.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.42. As a group, equities analysts anticipate that Cullinan Therapeutics will post -3.02 EPS for the current fiscal year.

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 58,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $28.07, for a total value of $1,628,060.00. Following the sale, the insider now owns 129,582 shares of the company’s stock, valued at approximately $3,637,366.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in Cullinan Therapeutics by 145.6% in the 3rd quarter. Barclays PLC now owns 53,393 shares of the company’s stock worth $483,000 after buying an additional 31,650 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Cullinan Therapeutics by 380.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 609,106 shares of the company’s stock worth $5,512,000 after acquiring an additional 482,234 shares during the last quarter. Citigroup Inc. grew its position in Cullinan Therapeutics by 186.1% in the third quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock worth $213,000 after acquiring an additional 15,308 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Cullinan Therapeutics by 15.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 121,800 shares of the company’s stock valued at $1,102,000 after acquiring an additional 16,700 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of Cullinan Therapeutics during the 3rd quarter valued at about $181,000. 86.31% of the stock is currently owned by institutional investors.

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.