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

Key Points

• Analysts give Cullinan a "Moderate Buy": 10 analysts average the rating (8 buys, 1 hold, 1 sell) with a 1‑year target of about $29.56 versus the recent share price of $15.21, implying significant analyst-implied upside.
• Recent results and pipeline: Cullinan reported Q (EPS) of ($0.77), beating estimates by $0.03, has a market cap of about $920.7M and a one‑year trading range of $5.68–$16.74, and is progressing multiple Phase I oncology programs including lead asset CLN‑619.
• Insiders have been net sellers while institutions hold the bulk of shares: insiders sold 82,492 shares (~$1.16M) over the past 90 days, and roughly 86.31% of the stock is owned by hedge funds and other institutional investors.

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $29.5556.

Several equities research analysts have commented on CGEM shares. Wall Street Zen lowered shares of Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, February 8th. Wedbush boosted their price objective on shares of Cullinan Therapeutics from $34.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 11th. Guggenheim assumed coverage on shares of Cullinan Therapeutics in a research report on Monday, February 2nd. They issued a "buy" rating and a $30.00 price objective on the stock. Citigroup assumed coverage on shares of Cullinan Therapeutics in a research report on Tuesday, February 17th. They issued a "buy" rating and a $33.00 price objective on the stock. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $30.00 price objective on shares of Cullinan Therapeutics in a research report on Thursday, January 8th.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ CGEM opened at $15.21 on Friday. The firm has a market capitalization of $920.66 million, a P/E ratio of -4.54 and a beta of -0.12. Cullinan Therapeutics has a one year low of $5.68 and a one year high of $16.74. The company's fifty day moving average is $13.72 and its two-hundred day moving average is $10.84.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its earnings results on Tuesday, March 10th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.03. On average, sell-side analysts forecast that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jacquelyn L. Sumer sold 3,601 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $14.47, for a total value of $52,106.47. Following the sale, the insider directly owned 128,089 shares in the company, valued at $1,853,447.83. The trade was a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Michaelson sold 8,000 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $15.68, for a total transaction of $125,440.00. Following the completion of the sale, the insider owned 170,844 shares in the company, valued at $2,678,833.92. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 82,492 shares of company stock worth $1,162,559. 7.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CGEM. Caitong International Asset Management Co. Ltd boosted its position in shares of Cullinan Therapeutics by 62.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company's stock worth $28,000 after buying an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP purchased a new position in Cullinan Therapeutics in the 4th quarter valued at about $31,000. CWM LLC lifted its holdings in Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company's stock valued at $40,000 after purchasing an additional 1,318 shares in the last quarter. Signaturefd LLC lifted its holdings in Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company's stock valued at $43,000 after purchasing an additional 3,607 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Cullinan Therapeutics in the 3rd quarter valued at about $62,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

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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