Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEMGet Free Report) have received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.75.

A number of research analysts recently weighed in on CGEM shares. Wedbush upped their price objective on Cullinan Therapeutics from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday. BTIG Research reissued a “buy” rating and issued a $38.00 target price on shares of Cullinan Therapeutics in a report on Monday, May 4th. Zacks Research lowered shares of Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, April 10th. Finally, HC Wainwright increased their price target on shares of Cullinan Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th.

Read Our Latest Stock Report on Cullinan Therapeutics

Cullinan Therapeutics Stock Up 1.2%

Shares of NASDAQ:CGEM opened at $14.73 on Tuesday. Cullinan Therapeutics has a 52 week low of $5.68 and a 52 week high of $16.74. The company has a 50-day moving average price of $14.26 and a 200 day moving average price of $11.93. The company has a market cap of $905.17 million, a P/E ratio of -4.38 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEMGet Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.09. Analysts expect that Cullinan Therapeutics will post -3.03 EPS for the current year.

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, CFO Mary Kay Fenton sold 4,398 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $13.62, for a total value of $59,900.76. Following the completion of the transaction, the chief financial officer directly owned 126,380 shares of the company’s stock, valued at approximately $1,721,295.60. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacquelyn L. Sumer sold 3,742 shares of Cullinan Therapeutics stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $13.62, for a total transaction of $50,966.04. Following the sale, the insider owned 131,690 shares of the company’s stock, valued at approximately $1,793,617.80. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 86,492 shares of company stock valued at $1,230,319 in the last ninety days. Company insiders own 7.16% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Cullinan Therapeutics by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company’s stock valued at $12,870,000 after acquiring an additional 57,259 shares during the last quarter. AlphaCentric Advisors LLC boosted its stake in shares of Cullinan Therapeutics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock worth $286,000 after purchasing an additional 1,094 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cullinan Therapeutics during the 1st quarter worth about $1,356,000. Leonteq Securities AG purchased a new stake in shares of Cullinan Therapeutics during the first quarter worth about $142,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Cullinan Therapeutics by 181.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,680 shares of the company’s stock worth $48,000 after buying an additional 3,020 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Cullinan Therapeutics (NASDAQ:CGEM)

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