Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $32.8571.
A number of analysts have commented on the company. BTIG Research boosted their target price on Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wedbush lifted their price target on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. TD Cowen raised shares of Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Cullinan Therapeutics in a report on Monday, August 17th.
Check Out Our Latest Research Report on Cullinan Therapeutics
Cullinan Therapeutics Trading Down 2.0%
Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). Analysts predict that Cullinan Therapeutics will post -3.08 EPS for the current year.
Insider Activity
In other news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total value of $172,560.00. Following the sale, the insider directly owned 158,844 shares in the company, valued at $3,426,265.08. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 46,000 shares of company stock valued at $922,920 over the last quarter. 8.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Cullinan Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the stock. Lynx1 Capital Management LP increased its position in Cullinan Therapeutics by 31.0% during the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock worth $34,193,000 after buying an additional 1,365,248 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Cullinan Therapeutics during the second quarter valued at $95,289,000. State Street Corp boosted its stake in shares of Cullinan Therapeutics by 31.0% during the fourth quarter. State Street Corp now owns 2,197,338 shares of the company’s stock valued at $22,742,000 after acquiring an additional 520,024 shares during the last quarter. Affinity Asset Advisors LLC increased its position in Cullinan Therapeutics by 632.4% during the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock worth $19,997,000 after purchasing an additional 1,668,289 shares in the last quarter. Finally, Blue Owl Capital Holdings LP acquired a new position in Cullinan Therapeutics in the 2nd quarter valued at about $28,039,000. Hedge funds and other institutional investors 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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