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

Key Points

• Cullinan Therapeutics has a consensus analyst rating of “Moderate Buy”, based on eight analysts, with an average 12-month price target of $32.00.
• The stock recently traded at $17.69, giving the company a market cap of about $1.09 billion; it also beat last quarter’s earnings estimate, reporting ($0.75) EPS versus the expected ($0.84).
• Insider and institutional activity remains active: insider Jennifer Michaelson sold 8,000 shares, while hedge funds and other institutions own 86.31% of the company’s stock.

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $32.00.

Several research firms have recently weighed in on CGEM. Wedbush reissued an "outperform" rating and issued a $37.00 price objective on shares of Cullinan Therapeutics in a research report on Thursday, June 11th. BTIG Research reaffirmed a "buy" rating and set a $38.00 target price on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a report on Monday, June 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th.

Cullinan Therapeutics Stock Performance

Cullinan Therapeutics stock opened at $17.69 on Friday. Cullinan Therapeutics has a 52 week low of $5.68 and a 52 week high of $19.43. The firm has a market capitalization of $1.09 billion, a PE ratio of -5.26 and a beta of -0.01. The business's 50-day simple moving average is $15.91 and its 200-day simple moving average is $14.08.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.09. Research analysts forecast that Cullinan Therapeutics will post -3.06 earnings per share for the current year.

Insider Activity at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $17.82, for a total value of $142,560.00. Following the completion of the sale, the insider owned 162,844 shares in the company, valued at approximately $2,901,880.08. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company's stock worth $28,000 after purchasing an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP bought a new stake in shares of Cullinan Therapeutics during the fourth quarter valued at approximately $31,000. CWM LLC lifted its position in Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company's stock worth $40,000 after purchasing an additional 1,318 shares during the period. Royal Bank of Canada lifted its position in Cullinan Therapeutics by 160.6% in the first quarter. Royal Bank of Canada now owns 4,044 shares of the company's stock worth $58,000 after purchasing an additional 2,492 shares during the period. Finally, Signaturefd LLC boosted its stake in Cullinan Therapeutics by 689.7% during the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company's stock worth $43,000 after buying an additional 3,607 shares in the last quarter. 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.

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