Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts hold a “Moderate Buy” consensus on Cullinan Therapeutics, with six buy ratings, one strong buy, one hold and one sell among nine analysts. The average 12-month price target is $32.86, above the stock’s $22.09 opening price.
• Recent broker actions were generally positive: BTIG, HC Wainwright and Wedbush maintained or issued bullish ratings, while TD Cowen upgraded the stock to “strong buy”; Wedbush raised its target to $42.
• Cullinan reported a quarterly loss of $0.81 per share, slightly worse than the $0.80 analyst consensus. An insider also sold 30,000 shares for $607,800, while institutional investors own 86.31% of the company.

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.8571.

A number of equities analysts recently issued reports on the stock. BTIG Research raised their price objective on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. TD Cowen raised shares of Cullinan Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a research report on Monday, August 17th. Finally, Wedbush raised their target price on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, August 13th.

Insider Transactions at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 30,000 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider owned 162,844 shares of the company's stock, valued at $3,299,219.44. This trade represents a 15.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in Cullinan Therapeutics by 62.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company's stock valued at $28,000 after purchasing an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP bought a new position in shares of Cullinan Therapeutics in the fourth quarter worth approximately $31,000. CWM LLC increased its stake in shares of Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company's stock worth $40,000 after purchasing an additional 1,318 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Cullinan Therapeutics in the second quarter worth $53,000. Finally, Quantbot Technologies LP bought a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at $53,000. 86.31% of the stock is currently owned by institutional investors.

Cullinan Therapeutics Stock Performance

CGEM stock opened at $22.09 on Monday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -7.13 and a beta of 0.02. The business's 50-day moving average is $19.11 and its two-hundred day moving average is $16.14. Cullinan Therapeutics has a fifty-two week low of $5.68 and a fifty-two week high of $23.19.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.01). Equities analysts predict that Cullinan Therapeutics will post -3.08 earnings per share 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.

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