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

Key Points

• Shares have a consensus rating of Moderate Buy from 10 analysts with an average 12‑month price target of about $29.89, including buy/overweight initiations with targets up to $38.00.
• Company insiders sold a total of 78,492 shares worth roughly $1.11 million in the last quarter (recent individual sales at ~$15.68 and $14.47), leaving insiders with 6.07% ownership.
• Hedge funds and institutions own 86.31% of the stock; the company has a market cap near $942.6 million, trades around $15.34, and reports negative EPS with analysts forecasting about -3.06 EPS for the year.

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.8889.

A number of equities research analysts recently issued reports on CGEM shares. Guggenheim started coverage on Cullinan Therapeutics in a research note on Monday, February 2nd. They issued a "buy" rating and a $30.00 target price on the stock. Citigroup started coverage on Cullinan Therapeutics in a research note on Tuesday, February 17th. They issued a "buy" rating and a $33.00 target price on the stock. Wall Street Zen lowered Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, February 8th. BTIG Research reaffirmed a "buy" rating and issued a $38.00 target price on shares of Cullinan Therapeutics in a research note on Monday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, January 8th.

Insider Transactions at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $15.68, for a total value of $125,440.00. Following the sale, the insider owned 170,844 shares of the company's stock, valued at approximately $2,678,833.92. This represents a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacquelyn L. Sumer sold 3,601 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $14.47, for a total value of $52,106.47. Following the completion of the sale, the insider directly owned 128,089 shares in the company, valued at approximately $1,853,447.83. The trade was a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 78,492 shares of company stock worth $1,113,359 in the last quarter. Insiders own 6.07% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new position in shares of Cullinan Therapeutics during the 1st quarter worth $1,356,000. Leonteq Securities AG purchased a new position in shares of Cullinan Therapeutics during the 1st quarter worth $142,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Cullinan Therapeutics by 181.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,680 shares of the company's stock worth $48,000 after purchasing an additional 3,020 shares during the period. Seven Fleet Capital Management LP purchased a new position in shares of Cullinan Therapeutics during the 4th quarter worth $31,000. Finally, Invesco Ltd. lifted its stake in shares of Cullinan Therapeutics by 27.4% during the 4th quarter. Invesco Ltd. now owns 130,323 shares of the company's stock worth $1,349,000 after purchasing an additional 28,011 shares during the period. Hedge funds and other institutional investors own 86.31% of the company's stock.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM opened at $15.34 on Tuesday. The business's 50 day simple moving average is $14.22 and its 200-day simple moving average is $11.70. The firm has a market capitalization of $942.64 million, a price-to-earnings ratio of -4.58 and a beta of -0.09. Cullinan Therapeutics has a 12 month low of $5.68 and a 12 month high of $16.74.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its earnings results on Tuesday, March 10th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.80) by $0.03. On average, equities analysts anticipate that Cullinan Therapeutics will post -3.06 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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