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

Cullinan Therapeutics, Inc. (NASDAQ:CGEMGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $32.00.

CGEM has been the topic of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and set a $37.00 target price on shares of Cullinan Therapeutics in a research report on Thursday, June 11th. BTIG Research reissued a “buy” rating and issued a $38.00 price target on shares of Cullinan Therapeutics in a report on Tuesday, May 19th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research report on Monday, June 8th.

Get Our Latest Research Report on Cullinan Therapeutics

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $17.82, for a total transaction of $142,560.00. Following the completion of the sale, the insider directly owned 162,844 shares in the company, valued at approximately $2,901,880.08. The trade was a 4.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Several large investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in Cullinan Therapeutics during the first quarter worth about $1,356,000. Boothbay Fund Management LLC purchased a new stake in Cullinan Therapeutics during the 4th quarter valued at about $12,803,000. UBS Group AG grew its stake in Cullinan Therapeutics by 44.4% during the 4th quarter. UBS Group AG now owns 271,736 shares of the company’s stock valued at $2,812,000 after acquiring an additional 83,551 shares in the last quarter. Elmind Capital LP acquired a new stake in Cullinan Therapeutics in the 4th quarter valued at about $3,208,000. Finally, Tema Etfs LLC acquired a new stake in Cullinan Therapeutics in the 4th quarter valued at about $383,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Trading Down 1.0%

NASDAQ CGEM opened at $17.10 on Friday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -5.09 and a beta of -0.01. The stock has a 50-day moving average of $16.08 and a 200 day moving average of $14.34. Cullinan Therapeutics has a twelve month low of $5.68 and a twelve month high of $19.43.

Cullinan Therapeutics (NASDAQ:CGEMGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.09. Equities analysts predict that Cullinan Therapeutics will post -3.06 EPS for the current fiscal year.

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.

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Analyst Recommendations for Cullinan Therapeutics (NASDAQ:CGEM)

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