Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $31.67 Average PT from Analysts

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $31.67.

Several analysts recently weighed in on the company. UBS Group began coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Finally, Wedbush restated an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th.

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 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 of the company’s stock, valued at $2,097,390.78. The trade was a 6.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in shares of Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after purchasing an additional 872 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cullinan Therapeutics by 73.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after buying an additional 3,758 shares during the period. Arizona State Retirement System bought a new stake in Cullinan Therapeutics during the second quarter valued at $182,000. Squarepoint Ops LLC bought a new stake in Cullinan Therapeutics during the second quarter valued at $186,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Cullinan Therapeutics by 64.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock worth $187,000 after acquiring an additional 4,380 shares during the period. Institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Trading Up 2.8 %

Shares of NASDAQ:CGEM opened at $13.45 on Thursday. The stock has a market capitalization of $783.19 million, a PE ratio of -4.74 and a beta of -0.12. The firm has a 50 day moving average of $15.57 and a 200-day moving average of $17.89. Cullinan Therapeutics has a 12 month low of $7.64 and a 12 month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.09. On average, research analysts predict that Cullinan Therapeutics will post -3.12 EPS for the current fiscal year.

About Cullinan Therapeutics

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.