Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $32.00 Average Target Price from Analysts

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $32.00.

A number of equities research analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a research note on Monday.

Cullinan Therapeutics Price Performance

Shares of NASDAQ CGEM opened at $16.93 on Friday. The stock has a market capitalization of $975.74 million, a price-to-earnings ratio of -5.41 and a beta of -0.12. Cullinan Therapeutics has a 12 month low of $7.64 and a 12 month high of $30.19. The firm’s 50 day simple moving average is $18.00 and its 200-day simple moving average is $19.26.

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

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $18.09, for a total value of $144,720.00. Following the transaction, the insider now owns 115,942 shares in the company, valued at approximately $2,097,390.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its holdings 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 worth $44,000 after acquiring an additional 615 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Cullinan Therapeutics by 81.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock worth $153,000 after purchasing an additional 4,042 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cullinan Therapeutics by 73.3% during 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 during the last quarter. NEOS Investment Management LLC acquired a new stake in shares of Cullinan Therapeutics during the 4th quarter worth about $162,000. Finally, Quest Partners LLC acquired a new stake in shares of Cullinan Therapeutics during the 4th quarter worth about $179,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.