Cullinan Therapeutics’ (CGEM) “Buy” Rating Reiterated at BTIG Research

Cullinan Therapeutics (NASDAQ:CGEM)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research note issued on Monday, Benzinga reports. They currently have a $40.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 193.62% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Cullinan Therapeutics in a report on Friday, October 2nd. Wedbush raised their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. Finally, TD Cowen upgraded shares of Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.71.

Cullinan Therapeutics Stock Up 5.4%

CGEM traded up $0.69 during trading on Monday, reaching $13.62. The company’s stock had a trading volume of 357,079 shares, compared to its average volume of 905,887. The firm has a fifty day simple moving average of $19.04 and a two-hundred day simple moving average of $16.85. The company has a market cap of $876.78 million, a price-to-earnings ratio of -4.40 and a beta of -0.05. Cullinan Therapeutics has a 1 year low of $6.73 and a 1 year high of $23.19.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.01). As a group, equities analysts forecast that Cullinan Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $21.57, for a total value of $172,560.00. Following the sale, the insider owned 158,844 shares of the company’s stock, valued at approximately $3,426,265.08. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Cullinan Therapeutics by 38.3% in the third quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the last quarter. AlphaCentric Advisors LLC lifted its stake in shares of Cullinan Therapeutics by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock valued at $286,000 after buying an additional 1,094 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Cullinan Therapeutics in the 2nd quarter valued at $25,000. Allworth Financial LP lifted its stake in shares of Cullinan Therapeutics by 152.4% during the 2nd quarter. Allworth Financial LP now owns 2,893 shares of the company’s stock worth $53,000 after purchasing an additional 1,747 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Cullinan Therapeutics by 160.6% during the 1st quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock worth $58,000 after purchasing an additional 2,492 shares during the period. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

About Cullinan Therapeutics

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.