Cullinan Therapeutics (NASDAQ:CGEM) Given “Buy” Rating at BTIG Research

Cullinan Therapeutics (NASDAQ:CGEM)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $40.00 target price on the stock. BTIG Research’s price objective indicates a potential upside of 187.34% from the stock’s current price.

Several other research firms have also recently weighed in on CGEM. Wedbush upped their price target on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Cullinan Therapeutics in a research note on Friday, October 2nd. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. TD Cowen raised shares of Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.71.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock traded up $0.99 during trading hours on Monday, hitting $13.92. The company’s stock had a trading volume of 482,594 shares, compared to its average volume of 906,459. Cullinan Therapeutics has a 12 month low of $6.73 and a 12 month high of $23.19. The stock has a 50 day moving average of $19.04 and a 200 day moving average of $16.85. The company has a market capitalization of $895.96 million, a PE ratio of -4.48 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.01). Equities analysts expect that Cullinan Therapeutics will post -3.06 EPS for the current year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider directly owned 162,844 shares of the company’s stock, valued at $3,299,219.44. This represents a 15.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Cullinan Therapeutics during the 2nd quarter worth approximately $25,000. GAMMA Investing LLC increased its holdings in shares of Cullinan Therapeutics by 38.3% during the third quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Cullinan Therapeutics by 181.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,680 shares of the company’s stock valued at $48,000 after buying an additional 3,020 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Cullinan Therapeutics in the second quarter valued at approximately $53,000. Finally, Quantbot Technologies LP bought a new stake in shares of Cullinan Therapeutics in the second quarter valued at approximately $53,000. Institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer and autoimmune diseases. The company uses a portfolio-based approach to advance targeted therapies and immune-modulating treatments intended to address significant unmet medical needs.

Cullinan’s pipeline includes zovoltamab brengitecan (CLN-978), an investigational CD19-directed T-cell engager being studied in B-cell malignancies and autoimmune conditions, and CLN-619, an investigational antibody designed to target MICA and MICB proteins and stimulate anti-tumor immune responses.