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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have been given an average rating of "Buy" by the six analysts that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $34.80.

A number of research firms have recently issued reports on CGEM. HC Wainwright reiterated a "buy" rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. 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.

Insider Activity at Cullinan Therapeutics

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

Institutional Trading of Cullinan Therapeutics

Several hedge funds have recently added to or reduced their stakes in CGEM. Palumbo Wealth Management LLC acquired a new stake in shares of Cullinan Therapeutics during the first quarter worth $123,000. Exchange Traded Concepts LLC grew its position in Cullinan Therapeutics by 42.6% during the first quarter. Exchange Traded Concepts LLC now owns 14,107 shares of the company's stock worth $107,000 after buying an additional 4,216 shares in the last quarter. Rhumbline Advisers increased its stake in Cullinan Therapeutics by 4.6% during the 1st quarter. Rhumbline Advisers now owns 71,338 shares of the company's stock worth $540,000 after acquiring an additional 3,130 shares during the period. GAMMA Investing LLC raised its holdings in 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. Finally, Wellington Management Group LLP grew its holdings in shares of Cullinan Therapeutics by 25.4% during the 4th quarter. Wellington Management Group LLP now owns 132,976 shares of the company's stock worth $1,620,000 after purchasing an additional 26,951 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Stock Performance

CGEM stock traded up $0.15 during mid-day trading on Friday, hitting $8.05. 160,675 shares of the company were exchanged, compared to its average volume of 606,552. Cullinan Therapeutics has a 1-year low of $6.85 and a 1-year high of $30.19. The firm's 50 day simple moving average is $8.17 and its 200 day simple moving average is $11.09. The firm has a market cap of $475.07 million, a P/E ratio of -2.83 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.02. On average, equities research analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current fiscal 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.