Cullinan Therapeutics (NASDAQ:CGEM) Hits New 1-Year High - Should You Buy?

Key Points

• Cullinan Therapeutics reached a new 52-week high of $21.22, while shares last traded near $20.99. The stock has a $1.34 billion market capitalization and trades below analysts’ average price target of $32.86.
• Analyst sentiment is broadly positive, with six Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating. Recent price targets range from $30 to $42, although the company slightly missed quarterly EPS expectations.
• The biopharmaceutical company is developing several early-stage oncology treatments, while an insider recently sold 30,000 shares worth about $608,000. Institutional investors own approximately 86.31% of the stock.

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $21.22 and last traded at $20.9860, with a volume of 219959 shares. The stock had previously closed at $20.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CGEM shares. BTIG Research increased their price target on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Wedbush boosted their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday. Wall Street Zen downgraded shares of Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a research note on Monday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.86.

Cullinan Therapeutics Stock Performance

The firm has a market capitalization of $1.34 billion, a PE ratio of -6.72 and a beta of 0.01. The stock's 50-day simple moving average is $17.05 and its 200-day simple moving average is $15.10.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.01). As a group, analysts predict that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following the completion of the sale, the insider directly owned 162,844 shares in the company, valued at $3,299,219.44. This trade represents a 15.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised 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 acquiring an additional 1,036 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Cullinan Therapeutics during the second quarter valued at approximately $53,000. Quantbot Technologies LP bought a new stake in shares of Cullinan Therapeutics during the second quarter valued at approximately $53,000. Seven Fleet Capital Management LP purchased a new stake in Cullinan Therapeutics in the fourth quarter worth $31,000. Finally, CWM LLC grew its stake in Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company's stock worth $40,000 after purchasing an additional 1,318 shares during the period. Hedge funds and other 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.

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