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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $31.67.

Several analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. Finally, UBS Group started coverage on shares of Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 price target for the company.

Insiders Place Their Bets

In other news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $15.64, for a total value of $125,120.00. Following the sale, the insider now directly owns 107,942 shares of the company’s stock, valued at $1,688,212.88. This represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Cullinan Therapeutics by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after purchasing an additional 820 shares during the period. Amalgamated Bank grew its stake in shares of Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after buying an additional 872 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cullinan Therapeutics by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock worth $1,187,000 after buying an additional 2,377 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 buying an additional 3,758 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Cullinan Therapeutics by 22.2% in the third quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock worth $358,000 after acquiring an additional 3,881 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ:CGEM opened at $13.09 on Thursday. The firm has a market capitalization of $762.23 million, a PE ratio of -4.61 and a beta of -0.12. Cullinan Therapeutics has a 52-week low of $7.64 and a 52-week high of $30.19. The firm has a fifty day moving average of $15.85 and a 200 day moving average of $18.04.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.09. On average, sell-side analysts forecast that Cullinan Therapeutics will post -3.12 EPS for the current fiscal 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.