Cullinan Therapeutics (NASDAQ:CGEM) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a research report sent to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $28.00 price objective on the stock.

Separately, Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.00.

Cullinan Therapeutics Stock Down 3.5 %

Shares of NASDAQ CGEM opened at $16.77 on Wednesday. Cullinan Therapeutics has a twelve month low of $7.64 and a twelve month high of $30.19. The firm has a fifty day simple moving average of $17.35 and a 200 day simple moving average of $19.21. The company has a market capitalization of $966.52 million, a PE ratio of -5.36 and a beta of -0.13.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.02). As a group, equities analysts expect that Cullinan Therapeutics will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 115,942 shares in the company, valued at approximately $2,097,390.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.07% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

A number of institutional investors have recently modified their holdings of CGEM. Ameritas Investment Partners Inc. lifted its stake in shares of Cullinan Therapeutics by 31.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock valued at $44,000 after buying an additional 615 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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 purchasing an additional 3,758 shares in the last quarter. Arizona State Retirement System purchased a new stake in Cullinan Therapeutics in the 2nd quarter worth approximately $182,000. Squarepoint Ops LLC purchased a new stake in Cullinan Therapeutics in the 2nd quarter worth approximately $186,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Cullinan Therapeutics by 40.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,175 shares of the company’s stock worth $265,000 after purchasing an additional 4,393 shares in the last quarter. 86.31% of the stock is currently 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.