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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have received an average recommendation of "Buy" from the five analysts that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $33.50.

A number of research firms recently weighed in on CGEM. Morgan Stanley reissued an "overweight" rating and set a $35.00 price target (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. HC Wainwright restated a "buy" rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th.

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,895 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $41,754.35. Following the completion of the transaction, the insider now owns 174,164 shares in the company, valued at $1,485,618.92. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the sale, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.07% of the stock is owned by company insiders.

Institutional Trading of Cullinan Therapeutics

A number of large investors have recently modified their holdings of CGEM. Harbor Capital Advisors Inc. lifted its position in Cullinan Therapeutics by 43.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company's stock valued at $374,000 after purchasing an additional 9,385 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cullinan Therapeutics by 25.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company's stock worth $487,000 after acquiring an additional 5,842 shares during the last quarter. Geode Capital Management LLC grew its position in Cullinan Therapeutics by 23.8% in the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company's stock worth $20,233,000 after acquiring an additional 231,935 shares in the last quarter. Barclays PLC increased its stake in Cullinan Therapeutics by 26.0% in the third quarter. Barclays PLC now owns 248,614 shares of the company's stock valued at $4,161,000 after acquiring an additional 51,300 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Cullinan Therapeutics by 32.9% during the fourth quarter. New York State Common Retirement Fund now owns 12,918 shares of the company's stock valued at $157,000 after purchasing an additional 3,200 shares in the last quarter. Institutional investors own 86.31% of the company's stock.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM traded down $0.02 during midday trading on Friday, hitting $8.26. 87,345 shares of the company's stock were exchanged, compared to its average volume of 602,074. Cullinan Therapeutics has a 12 month low of $6.85 and a 12 month high of $30.19. The company has a market cap of $487.46 million, a PE ratio of -2.90 and a beta of -0.05. The stock has a 50 day moving average price of $8.16 and a 200-day moving average price of $11.07.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.02. On average, analysts anticipate that Cullinan Therapeutics will post -3.04 EPS for the current fiscal year.

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.