Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Consensus Rating of “Buy” by Brokerages

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.67.

Several equities research analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Finally, UBS Group assumed coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock.

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total value of $144,720.00. Following the sale, the insider now owns 115,942 shares in the company, valued at approximately $2,097,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Large investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after acquiring an additional 872 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Cullinan Therapeutics by 31.0% during the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock valued at $44,000 after acquiring an additional 615 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after acquiring an additional 3,758 shares during the period. Arizona State Retirement System acquired a new position in shares of Cullinan Therapeutics during the second quarter valued at approximately $182,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Cullinan Therapeutics during the second quarter valued at approximately $186,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock opened at $15.78 on Friday. Cullinan Therapeutics has a one year low of $7.64 and a one year high of $30.19. The company’s 50-day simple moving average is $17.11 and its 200-day simple moving average is $19.16. The stock has a market capitalization of $914.92 million, a price-to-earnings ratio of -5.16 and a beta of -0.13.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.02). As a group, research analysts forecast that Cullinan Therapeutics will post -3.2 EPS for the current year.

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.