Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives Average Rating of “Buy” from Brokerages

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $32.00.

A number of research firms have recently commented on CGEM. Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a report on Monday, June 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Cullinan Therapeutics in a report on Monday, June 3rd.

Cullinan Therapeutics Trading Up 1.9 %

NASDAQ:CGEM opened at $17.95 on Friday. Cullinan Therapeutics has a 1 year low of $7.64 and a 1 year high of $30.19. The firm’s fifty day simple moving average is $17.99 and its 200 day simple moving average is $19.25. The firm has a market capitalization of $1.04 billion, a PE ratio of -5.73 and a beta of -0.12.

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

Insider Buying and Selling

In related news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total transaction of $144,720.00. Following the transaction, the insider now owns 115,942 shares of the company’s stock, valued at approximately $2,097,390.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its stake in Cullinan Therapeutics by 31.0% in the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock valued at $44,000 after buying an additional 615 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cullinan Therapeutics by 73.3% in 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Cullinan Therapeutics by 81.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock valued at $153,000 after buying an additional 4,042 shares in the last quarter. Arizona State Retirement System bought a new position in Cullinan Therapeutics in the second quarter valued at approximately $182,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Cullinan Therapeutics in the second quarter worth $186,000. 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.