Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $26.00 Consensus Price Target from Analysts

Key Points

• Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has received a consensus rating of "Moderate Buy" from analysts, with six covering the stock—one hold and five buy recommendations.
• The company's stock price has experienced a decline of 2.2%, currently trading at $6.20, while analysts have set an average 12-month target price of $26.00.
• Cullinan Therapeutics has been missing earnings estimates, reporting an EPS of ($1.07) for the last quarter, which was below the consensus expectation of ($0.83).

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $26.00.

Several analysts have commented on CGEM shares. Morgan Stanley reduced their price objective on Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. HC Wainwright reissued a "buy" rating and set a $24.00 price objective on shares of Cullinan Therapeutics in a report on Friday, September 12th. BTIG Research reiterated a "buy" rating and issued a $32.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, September 10th. Zacks Research upgraded shares of Cullinan Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. 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 target on the stock.

Cullinan Therapeutics Trading Up 1.3%

CGEM traded up $0.08 during trading on Monday, hitting $6.28. 594,776 shares of the stock were exchanged, compared to its average volume of 608,518. Cullinan Therapeutics has a 1-year low of $5.89 and a 1-year high of $18.40. The stock has a fifty day moving average price of $7.45 and a two-hundred day moving average price of $7.86.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.24). On average, research analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of institutional investors have recently modified their holdings of CGEM. Millennium Management LLC raised its position in shares of Cullinan Therapeutics by 5.8% in the fourth quarter. Millennium Management LLC now owns 833,962 shares of the company's stock valued at $10,158,000 after buying an additional 45,395 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Cullinan Therapeutics by 31.2% during the 4th quarter. ProShare Advisors LLC now owns 17,326 shares of the company's stock worth $211,000 after purchasing an additional 4,124 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Cullinan Therapeutics by 83.9% during the fourth quarter. Two Sigma Investments LP now owns 42,205 shares of the company's stock worth $514,000 after purchasing an additional 19,261 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Cullinan Therapeutics by 22.3% during the fourth quarter. Two Sigma Advisers LP now owns 21,900 shares of the company's stock worth $267,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Cullinan Therapeutics during the fourth quarter worth $2,038,000. Institutional investors and hedge funds own 86.31% of the company's stock.

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.