Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has received an average consensus rating of "Buy" from five brokerages, with an average price target of $30.00.
• Significant institutional investments have occurred, with firms like Deerfield Management and Vanguard Group increasing their holdings, contributing to institutional ownership of 86.31%.
• The company's stock has seen a decrease of 1.3% and is currently valued at $7.67, with a reported EPS of -$0.74 for the last quarter.

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has been given a consensus recommendation of "Buy" by the five research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $30.00.

Several analysts recently commented on the company. Stifel Nicolaus assumed coverage on Cullinan Therapeutics in a research note on Wednesday, June 11th. They set a "buy" rating and a $22.00 price objective on the stock. UBS Group dropped their price objective on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th.

Cullinan Therapeutics Price Performance

Shares of NASDAQ CGEM traded up $0.27 during midday trading on Friday, reaching $7.94. 272,441 shares of the stock were exchanged, compared to its average volume of 425,263. Cullinan Therapeutics has a 12 month low of $6.85 and a 12 month high of $19.89. The company has a market capitalization of $468.58 million, a price-to-earnings ratio of -2.73 and a beta of -0.08. The business has a 50-day simple moving average of $8.10 and a two-hundred day simple moving average of $8.45.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. Equities research analysts expect that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cullinan Therapeutics

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in shares of Cullinan Therapeutics in the 1st quarter valued at about $34,000. Federated Hermes Inc. grew its holdings in shares of Cullinan Therapeutics by 67.0% in the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock valued at $46,000 after acquiring an additional 1,525 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Cullinan Therapeutics by 1,214.8% in the 1st quarter. GAMMA Investing LLC now owns 6,995 shares of the company's stock valued at $53,000 after acquiring an additional 6,463 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings 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 acquiring an additional 1,600 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Cullinan Therapeutics in the 4th quarter valued at about $77,000. Institutional investors own 86.31% of the company's stock.

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.