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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have received a consensus rating of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $32.00.

A number of analysts have issued reports on the company. William Blair reissued an “outperform” rating on shares of Cullinan Therapeutics in a research report on Monday, June 3rd. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research report on Monday, June 3rd. Stifel Nicolaus assumed coverage on Cullinan Therapeutics in a research report on Wednesday, May 1st. They issued a “buy” rating and a $40.00 target price on the stock. BTIG Research boosted their target price on Cullinan Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Jonestrading upped their price objective on Cullinan Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 58,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $28.07, for a total value of $1,628,060.00. Following the completion of the transaction, the insider now owns 129,582 shares in the company, valued at $3,637,366.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.07% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Several hedge funds have recently made changes to their positions in CGEM. Ameritas Investment Partners Inc. grew its holdings 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 worth $44,000 after buying an additional 615 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Cullinan Therapeutics by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after buying an additional 820 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Cullinan Therapeutics by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock worth $147,000 after buying an additional 1,587 shares during the last quarter. Annandale Capital LLC grew its holdings in shares of Cullinan Therapeutics by 20.0% during the third quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock worth $109,000 after buying an additional 2,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cullinan Therapeutics by 22.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock worth $294,000 after buying an additional 3,134 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Performance

CGEM stock opened at $17.44 on Monday. The firm has a market cap of $1.01 billion, a PE ratio of -5.57 and a beta of -0.06. The firm’s 50 day moving average price is $22.52 and its 200-day moving average price is $17.56. Cullinan Therapeutics has a one year low of $7.64 and a one year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Wednesday, May 15th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. Equities research analysts predict that Cullinan Therapeutics will post -3.02 EPS for the current fiscal year.

Cullinan Therapeutics Company Profile

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.