Wedbush reissued their outperform rating on shares of Cullinan Therapeutics (NASDAQ:CGEM – Free Report) in a report published on Wednesday, Benzinga reports. They currently have a $36.00 target price on the stock.
Several other brokerages also recently issued reports on CGEM. William Blair reiterated an outperform rating on shares of Cullinan Therapeutics in a report on Monday, June 3rd. HC Wainwright reiterated a buy rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research note on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of $32.00.
Check Out Our Latest Report on Cullinan Therapeutics
Cullinan Therapeutics Price Performance
Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). On average, equities research analysts expect that Cullinan Therapeutics will post -3.2 EPS for the current fiscal year.
Insider Transactions at Cullinan Therapeutics
In related news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $16.33, for a total value of $130,640.00. Following the completion of the transaction, the insider now owns 123,942 shares of the company’s stock, valued at $2,023,972.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.07% of the company’s stock.
Institutional Trading of Cullinan Therapeutics
Several institutional investors have recently added to or reduced their stakes in CGEM. Ameritas Investment Partners Inc. increased 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 purchasing an additional 615 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Cullinan Therapeutics by 81.6% in the first 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cullinan Therapeutics by 73.3% during 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 in the last quarter. NEOS Investment Management LLC bought a new position in Cullinan Therapeutics during the 4th quarter worth approximately $162,000. Finally, Quest Partners LLC acquired a new position in shares of Cullinan Therapeutics in the 4th quarter worth approximately $179,000. 86.31% of the stock is owned by institutional investors and hedge funds.
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.
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