Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $31.67 Consensus Target Price from Brokerages

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued a report on the stock in the last year is $31.67.

Several equities research analysts have recently weighed in on CGEM shares. UBS Group initiated coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, October 16th.

Insider Activity at Cullinan Therapeutics

In related news, CEO Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total transaction of $99,708.00. Following the completion of the transaction, the chief executive officer now directly owns 263,150 shares in the company, valued at $3,123,590.50. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total value of $43,682.28. Following the transaction, the insider now owns 104,453 shares of the company’s stock, valued at $1,307,751.56. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,582 shares of company stock worth $372,097 over the last 90 days. Company insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. RTW Investments LP grew its stake in Cullinan Therapeutics by 62.1% in the 3rd quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock worth $28,558,000 after acquiring an additional 653,330 shares during the period. Marshall Wace LLP grew its stake in Cullinan Therapeutics by 2,416.9% in the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock worth $20,650,000 after acquiring an additional 1,136,993 shares during the period. Braidwell LP grew its stake in shares of Cullinan Therapeutics by 567.6% during the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock valued at $19,689,000 after buying an additional 1,000,000 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Cullinan Therapeutics by 43.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock valued at $374,000 after buying an additional 9,385 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Cullinan Therapeutics by 23.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock valued at $20,233,000 after buying an additional 231,935 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Therapeutics Price Performance

CGEM stock opened at $10.26 on Friday. The firm has a market capitalization of $597.44 million, a P/E ratio of -3.61 and a beta of -0.14. The business’s 50-day moving average is $12.42 and its two-hundred day moving average is $15.58. Cullinan Therapeutics has a 1 year low of $9.50 and a 1 year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.09. On average, analysts expect that Cullinan Therapeutics will post -3.12 EPS for the current 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.