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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has received an average rating of "Buy" from the five analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $30.00.

CGEM has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Cullinan Therapeutics in a research report on Wednesday, June 11th. They issued a "buy" rating and a $22.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. Finally, UBS Group lowered their price target on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating for the company in a report on Monday, May 12th.

Institutional Investors Weigh In On Cullinan Therapeutics

Several large investors have recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in shares of Cullinan Therapeutics by 67.0% during the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after purchasing an additional 1,525 shares during the period. Brooklyn Investment Group purchased a new stake in Cullinan Therapeutics during the 1st quarter worth about $34,000. Virtus ETF Advisers LLC increased its position in Cullinan Therapeutics by 37.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock worth $71,000 after purchasing an additional 1,600 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Cullinan Therapeutics during the 4th quarter worth about $77,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Cullinan Therapeutics during the 4th quarter worth about $83,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Trading Down 1.8%

CGEM traded down $0.14 on Wednesday, hitting $7.70. 235,839 shares of the company's stock were exchanged, compared to its average volume of 510,794. Cullinan Therapeutics has a fifty-two week low of $6.85 and a fifty-two week high of $21.01. The firm has a 50-day moving average price of $8.04 and a 200-day moving average price of $8.85. The stock has a market cap of $454.38 million, a price-to-earnings ratio of -2.65 and a beta of -0.08.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. On average, equities analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current 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.