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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has received a consensus recommendation of "Buy" from the five ratings firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $30.00.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Cullinan Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 430,971 shares of the company's stock worth $5,249,000 after purchasing an additional 7,012 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cullinan Therapeutics in the 4th quarter worth approximately $247,000. Intech Investment Management LLC boosted its stake in Cullinan Therapeutics by 81.7% in the 4th quarter. Intech Investment Management LLC now owns 31,782 shares of the company's stock worth $387,000 after purchasing an additional 14,295 shares during the period. American Century Companies Inc. boosted its stake in Cullinan Therapeutics by 11.0% in the 4th quarter. American Century Companies Inc. now owns 100,721 shares of the company's stock worth $1,227,000 after purchasing an additional 10,010 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Cullinan Therapeutics in the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 86.31% of the company's stock.

Cullinan Therapeutics Price Performance

NASDAQ CGEM opened at $7.35 on Wednesday. Cullinan Therapeutics has a 12 month low of $6.85 and a 12 month high of $21.01. The firm has a market capitalization of $433.72 million, a PE ratio of -2.53 and a beta of -0.08. The company's 50 day simple moving average is $8.09 and its 200 day simple moving average is $8.94.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.04. Sell-side analysts anticipate that Cullinan Therapeutics will post -3.04 earnings per share 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.

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