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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have earned an average recommendation of "Buy" from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.00.

A number of equities research analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Stifel Nicolaus assumed coverage on shares of Cullinan Therapeutics in a research report on Wednesday, June 11th. They set a "buy" rating and a $22.00 price target on the stock. Morgan Stanley reiterated an "overweight" rating and set a $35.00 price target (down from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. grew its holdings in Cullinan Therapeutics by 67.0% in the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after purchasing an additional 1,525 shares during the period. Brooklyn Investment Group bought a new position in shares of Cullinan Therapeutics during the 1st quarter worth about $34,000. Virtus ETF Advisers LLC grew its stake in shares of Cullinan Therapeutics by 37.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock valued at $71,000 after buying an additional 1,600 shares during the period. Aquatic Capital Management LLC bought a new stake in Cullinan Therapeutics in the 4th quarter valued at about $77,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Cullinan Therapeutics in the 4th quarter valued at about $83,000. Institutional investors and hedge funds own 86.31% of the company's stock.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock traded down $0.42 on Friday, hitting $8.32. The company had a trading volume of 227,089 shares, compared to its average volume of 549,125. Cullinan Therapeutics has a twelve month low of $6.85 and a twelve month high of $21.01. The firm has a market cap of $490.96 million, a P/E ratio of -2.86 and a beta of -0.04. The stock's 50-day moving average is $8.14 and its two-hundred day moving average is $9.40.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. Equities research analysts predict that Cullinan Therapeutics will post -3.04 EPS 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.