Cullinan Therapeutics, Inc. (CGEM) – What Are Analysts Saying About This Stock?

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $33.86.

A number of equities analysts recently weighed in on CGEM shares. TD Cowen upgraded shares of Cullinan Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Wall Street Zen downgraded shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, October 2nd. Wedbush lifted their target price 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. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Cullinan Therapeutics in a research note on Friday, October 2nd.

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total value of $172,560.00. Following the completion of the transaction, the insider directly owned 158,844 shares of the company’s stock, valued at approximately $3,426,265.08. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Cullinan Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in shares of Cullinan Therapeutics during the 2nd quarter worth $25,000. GAMMA Investing LLC boosted 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 last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Cullinan Therapeutics during the third quarter worth $50,000. Allworth Financial LP purchased a new stake in shares of Cullinan Therapeutics in the second quarter valued at $53,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Cullinan Therapeutics in the second quarter valued at $53,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock opened at $15.03 on Tuesday. The stock’s 50-day moving average is $17.91 and its two-hundred day moving average is $15.77. Cullinan Therapeutics has a 1 year low of $6.73 and a 1 year high of $23.19. The firm has a market cap of $967.33 million, a price-to-earnings ratio of -4.85 and a beta of -0.05.

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, research analysts predict that Cullinan Therapeutics will post -3.06 EPS for the current year.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer. The company builds a portfolio of targeted therapies and immune-modulating treatments designed to address significant unmet needs across hematologic malignancies and solid tumors.

Its development programs include investigational antibody-based therapies and other biologic approaches intended to selectively target cancer cells or activate the immune system. Among its programs are CLN-619, an antibody directed at the MICA and MICB proteins, CLN-418, an immune-activating bispecific molecule, and CLN-049, an investigational treatment designed to engage FLT3 and FLT3 ligand in certain blood cancers.