Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives Average Rating of “Buy” from Analysts

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been given an average recommendation of “Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $31.67.

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

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 3,489 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total value of $43,682.28. Following the transaction, the insider now directly owns 104,453 shares of the company’s stock, valued at $1,307,751.56. This trade represents a 3.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 16,182 shares of company stock valued at $222,349. 6.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of large investors have recently made changes to their positions in CGEM. Amalgamated Bank grew its holdings in shares of Cullinan Therapeutics by 97.3% in the third 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 valued at $155,000 after buying an additional 3,758 shares during the period. Arizona State Retirement System purchased a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $182,000. Squarepoint Ops LLC acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter worth approximately $186,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of 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 valued at $187,000 after buying an additional 4,380 shares during the period. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Stock Performance

CGEM stock opened at $11.60 on Monday. Cullinan Therapeutics has a one year low of $8.49 and a one year high of $30.19. The firm’s fifty day moving average is $14.28 and its 200 day moving average is $16.64. The firm has a market cap of $675.44 million, a PE ratio of -4.08 and a beta of -0.18.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. Research analysts predict that Cullinan Therapeutics will post -3.12 earnings per share for the current fiscal year.

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.