Cullinan Therapeutics (NASDAQ:CGEM) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Cullinan Therapeutics' stock received a "sell (e+)" rating from Weiss Ratings, which was reaffirmed in a recent research report.
• Despite the sell rating from Weiss, the consensus among five equity research analysts is a "Moderate Buy" with a price target of $26.00.
• The company's shares saw a price increase of $0.56 to $6.45, with a 12-month trading range between $5.68 and $17.98.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently weighed in on CGEM. Zacks Research raised shares of Cullinan Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. Stifel Nicolaus began 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 for the company. Morgan Stanley decreased their target price on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. BTIG Research restated a "buy" rating and issued a $32.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, September 10th. Finally, HC Wainwright restated a "buy" rating and issued a $24.00 target price on shares of Cullinan Therapeutics in a research report on Friday, September 12th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM traded up $0.56 during trading on Wednesday, reaching $6.45. 4,922,326 shares of the company's stock traded hands, compared to its average volume of 803,932. Cullinan Therapeutics has a 12 month low of $5.68 and a 12 month high of $17.98. The company has a 50 day moving average of $6.95 and a 200-day moving average of $7.63. The stock has a market capitalization of $381.00 million, a P/E ratio of -2.00 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.24). Equities research analysts predict that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal year.

Institutional Trading of Cullinan Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its stake in Cullinan Therapeutics by 1,665.9% during the third quarter. Assenagon Asset Management S.A. now owns 177,685 shares of the company's stock valued at $1,054,000 after purchasing an additional 167,623 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock valued at $62,000 after purchasing an additional 2,523 shares during the last quarter. Man Group plc acquired a new stake in Cullinan Therapeutics during the second quarter valued at approximately $168,000. Massar Capital Management LP acquired a new stake in Cullinan Therapeutics during the second quarter valued at approximately $101,000. Finally, Engineers Gate Manager LP acquired a new stake in Cullinan Therapeutics during the second quarter valued at approximately $136,000. 86.31% of the stock is owned by institutional investors and hedge funds.

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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