Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) has received an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $33.86.
Several research analysts have recently commented on CGEM shares. Wedbush lifted their price target on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. TD Cowen raised shares of Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. BTIG Research raised their price objective on shares of Cullinan Therapeutics from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen downgraded shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th.
Check Out Our Latest Report on Cullinan Therapeutics
Insider Buying and Selling at Cullinan Therapeutics
In other news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total transaction of $172,560.00. Following the completion of the sale, the insider owned 158,844 shares in the company, valued at $3,426,265.08. This trade represents a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Cullinan Therapeutics during the 2nd quarter worth $95,289,000. Blue Owl Capital Holdings LP acquired a new position in Cullinan Therapeutics in the second quarter valued at about $28,039,000. Dimensional Fund Advisors LP lifted its position in Cullinan Therapeutics by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company’s stock valued at $12,870,000 after buying an additional 57,259 shares during the last quarter. Boone Capital Management LLC acquired a new position in Cullinan Therapeutics in the second quarter valued at about $12,828,000. Finally, Elmind Capital LP purchased a new position in Cullinan Therapeutics during the second quarter worth about $12,564,900. 86.31% of the stock is currently owned by hedge funds and other institutional investors.
Cullinan Therapeutics Stock Performance
NASDAQ:CGEM opened at $15.45 on Tuesday. Cullinan Therapeutics has a one year low of $6.73 and a one year high of $23.19. The stock has a market cap of $994.36 million, a PE ratio of -4.98 and a beta of -0.05. The stock has a 50 day moving average price of $18.03 and a 200 day moving average price of $15.75.
Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). As a group, analysts predict that Cullinan Therapeutics will post -3.06 earnings per share for the current fiscal year.
About Cullinan Therapeutics
Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer. The company builds a portfolio of targeted therapies and immune-modulating treatments designed to address significant unmet needs across hematologic malignancies and solid tumors.
Its development programs include investigational antibody-based therapies and other biologic approaches intended to selectively target cancer cells or activate the immune system. Among its programs are CLN-619, an antibody directed at the MICA and MICB proteins, CLN-418, an immune-activating bispecific molecule, and CLN-049, an investigational treatment designed to engage FLT3 and FLT3 ligand in certain blood cancers.
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