Stifel Nicolaus Begins Coverage on Cullinan Therapeutics (NASDAQ:CGEM)

Equities researchers at Stifel Nicolaus initiated coverage on shares of Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) in a research report issued on Wednesday, Marketbeat reports. The firm set a "buy" rating and a $22.00 price target on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 144.99% from the stock's current price.

CGEM has been the subject of several other research reports. UBS Group cut their price objective on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, May 12th. HC Wainwright reaffirmed a "buy" rating and set a $33.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $35.00 price target (down previously from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $30.00.

Cullinan Therapeutics Price Performance

Shares of CGEM stock remained flat at $8.98 on Wednesday. 71,891 shares of the company traded hands, compared to its average volume of 564,741. The company has a market cap of $529.95 million, a P/E ratio of -3.16 and a beta of -0.04. Cullinan Therapeutics has a fifty-two week low of $6.85 and a fifty-two week high of $24.76. The business has a fifty day simple moving average of $8.04 and a 200 day simple moving average of $9.55.

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, topping analysts' consensus estimates of ($0.78) by $0.04. On average, sell-side analysts anticipate that Cullinan Therapeutics will post -3.04 earnings per share for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGEM. Brooklyn Investment Group acquired a new position in shares of Cullinan Therapeutics during the first quarter worth $34,000. Federated Hermes Inc. grew its position in Cullinan Therapeutics by 67.0% during the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after acquiring an additional 1,525 shares during the last quarter. GAMMA Investing LLC grew its position in Cullinan Therapeutics by 1,214.8% during the 1st quarter. GAMMA Investing LLC now owns 6,995 shares of the company's stock worth $53,000 after acquiring an additional 6,463 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in Cullinan Therapeutics by 37.8% in 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. Finally, Aquatic Capital Management LLC acquired a new position in Cullinan Therapeutics in the 4th quarter worth about $77,000. Institutional investors own 86.31% of the company's stock.

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.