Cullinan Therapeutics (NASDAQ:CGEM) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a research note issued to investors on Monday, Benzinga reports. They currently have a $28.00 price target on the stock.

Several other brokerages also recently commented on CGEM. Wedbush reaffirmed an outperform rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, August 8th. William Blair reissued an outperform rating on shares of Cullinan Therapeutics in a research report on Monday, June 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $32.00.

Cullinan Therapeutics Stock Down 5.7 %

Shares of NASDAQ CGEM opened at $16.93 on Monday. Cullinan Therapeutics has a 52 week low of $7.64 and a 52 week high of $30.19. The firm’s fifty day moving average is $18.00 and its 200 day moving average is $19.26. The company has a market cap of $975.74 million, a price-to-earnings ratio of -5.41 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, August 8th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.02). Equities research analysts anticipate that Cullinan Therapeutics will post -3.2 earnings per share for the current year.

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total transaction of $144,720.00. Following the transaction, the insider now directly owns 115,942 shares of the company’s stock, valued at approximately $2,097,390.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.07% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its position in shares of Cullinan Therapeutics by 31.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after buying an additional 615 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Cullinan Therapeutics by 3.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after buying an additional 820 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cullinan Therapeutics by 22.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock worth $294,000 after buying an additional 3,134 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cullinan Therapeutics by 73.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after buying an additional 3,758 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Cullinan Therapeutics by 81.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock worth $153,000 after buying an additional 4,042 shares during the period. 86.31% of the stock is owned by hedge funds and other 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.