Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Average Rating of "Buy" by Analysts

Key Points

• Analysts are optimistic about Cullinan Therapeutics, giving it an average rating of "Buy", with a consensus price target of $26.80.
• Significant hedge fund activity surrounds the company, with institutional investors owning 86.31% of the stock, indicating strong market confidence.
• Cullinan Therapeutics recently reported a quarterly loss of ($1.07) EPS, which fell short of the consensus estimate of ($0.83).

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have earned an average rating of "Buy" from the five analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $26.80.

Several equities research analysts have commented on the company. UBS Group lowered their price objective on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. HC Wainwright started coverage on shares of Cullinan Therapeutics in a research note on Thursday, August 21st. They issued a "buy" rating and a $24.00 target price for the company. Morgan Stanley dropped their price target on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Finally, Stifel Nicolaus started coverage on shares of Cullinan Therapeutics in a report on Wednesday, June 11th. They issued a "buy" rating and a $22.00 price objective for the company.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of hedge funds have recently bought and sold shares of CGEM. Brooklyn Investment Group acquired a new position in shares of Cullinan Therapeutics during the 1st quarter worth approximately $34,000. Aquatic Capital Management LLC purchased a new stake in Cullinan Therapeutics in the 4th quarter worth $77,000. GAMMA Investing LLC raised its position in Cullinan Therapeutics by 1,214.8% during the first quarter. GAMMA Investing LLC now owns 6,995 shares of the company's stock worth $53,000 after acquiring an additional 6,463 shares during the period. Tower Research Capital LLC TRC raised its position in Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock worth $62,000 after acquiring an additional 2,523 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Cullinan Therapeutics by 411.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,800 shares of the company's stock valued at $107,000 after purchasing an additional 7,079 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company's stock.

Cullinan Therapeutics Price Performance

CGEM stock opened at $7.93 on Thursday. The firm's fifty day simple moving average is $7.76 and its 200-day simple moving average is $8.13. The company has a market capitalization of $468.43 million, a P/E ratio of -2.46 and a beta of -0.08. Cullinan Therapeutics has a 12 month low of $6.85 and a 12 month high of $19.89.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.24). As a group, sell-side analysts forecast that Cullinan Therapeutics will post -3.04 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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