Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock Has Consensus Price Target of $33.71 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Cullinan Therapeutics, with six buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $33.71, though recent targets range from $35 to $42.
• CGEM opened at $14.53, compared with a 52-week range of $5.68 to $23.19, and has a market capitalization of approximately $935 million. The company reported quarterly EPS of negative $0.81, slightly missing the $0.80 loss expected by analysts.
• Institutional investors own 86.31% of the stock, while insiders own 8.60%; insiders sold 46,000 shares worth about $922,920 during the past 90 days.

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $33.71.

Several equities analysts have commented on CGEM shares. Wedbush raised their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. HC Wainwright upped their target price on shares of Cullinan Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, September 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. Wall Street Zen cut shares of Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, September 13th. Finally, TD Cowen raised shares of Cullinan Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th.

Cullinan Therapeutics Stock Performance

CGEM stock opened at $14.53 on Friday. Cullinan Therapeutics has a fifty-two week low of $5.68 and a fifty-two week high of $23.19. The company has a market capitalization of $935.15 million, a price-to-earnings ratio of -4.69 and a beta of -0.04. The business's 50 day moving average price is $19.56 and its two-hundred day moving average price is $16.73.

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

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total transaction of $607,800.00. Following the completion of the transaction, the insider directly owned 162,844 shares in the company, valued at approximately $3,299,219.44. This trade represents a 15.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 46,000 shares of company stock worth $922,920 over the last ninety days. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Cullinan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CGEM. Integrated Wealth Concepts LLC purchased a new position in Cullinan Therapeutics during the second quarter valued at $25,000. Allworth Financial LP purchased a new stake in shares of Cullinan Therapeutics in the second quarter worth $53,000. Quantbot Technologies LP purchased a new stake in shares of Cullinan Therapeutics in the second quarter worth $53,000. Seven Fleet Capital Management LP bought a new position in shares of Cullinan Therapeutics during the fourth quarter valued at $31,000. Finally, Royal Bank of Canada increased its holdings in shares of Cullinan Therapeutics by 160.6% during the first quarter. Royal Bank of Canada now owns 4,044 shares of the company's stock valued at $58,000 after acquiring an additional 2,492 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company's stock.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for cancer and other serious diseases. The company's approach combines internally developed drug candidates with licensed or acquired programs and partnerships intended to address areas of significant unmet medical need.

Its pipeline has included zipalertinib, an oral tyrosine kinase inhibitor being developed for patients with non-small cell lung cancer whose tumors have EGFR exon 20 insertion mutations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.