Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.75.
A number of brokerages recently issued reports on CGEM. Citigroup began coverage on shares of Cullinan Therapeutics in a research report on Tuesday, February 17th. They issued a “buy” rating and a $33.00 target price for the company. Zacks Research lowered shares of Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Guggenheim started coverage on shares of Cullinan Therapeutics in a research report on Monday, February 2nd. They issued a “buy” rating and a $30.00 price target for the company. BTIG Research reissued a “buy” rating and issued a $38.00 price target on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th. Finally, Wedbush raised their price objective on shares of Cullinan Therapeutics from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, May 8th.
Check Out Our Latest Stock Report on CGEM
Cullinan Therapeutics Price Performance
Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.09. As a group, analysts expect that Cullinan Therapeutics will post -3.07 EPS for the current fiscal year.
Insider Activity at Cullinan Therapeutics
In other news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $14.62, for a total value of $116,960.00. Following the transaction, the insider owned 166,844 shares of the company’s stock, valued at $2,439,259.28. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Cullinan Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of CGEM. Affinity Asset Advisors LLC grew its stake in shares of Cullinan Therapeutics by 632.4% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock worth $19,997,000 after acquiring an additional 1,668,289 shares during the last quarter. Lynx1 Capital Management LP boosted its stake in shares of Cullinan Therapeutics by 31.0% in the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after purchasing an additional 1,365,248 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Cullinan Therapeutics in the 4th quarter valued at $12,803,000. State Street Corp lifted its position in Cullinan Therapeutics by 31.0% during the 4th quarter. State Street Corp now owns 2,197,338 shares of the company’s stock worth $22,742,000 after buying an additional 520,024 shares in the last quarter. Finally, Caption Management LLC lifted its position in Cullinan Therapeutics by 107.0% during the 3rd quarter. Caption Management LLC now owns 28,389 shares of the company’s stock worth $168,000 after buying an additional 435,062 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.
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.
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