Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) shot up 9.2% during mid-day trading on Thursday . The stock traded as high as $8.56 and last traded at $8.56. 417,414 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 574,425 shares. The stock had previously closed at $7.84.
Analyst Ratings Changes
A number of equities analysts have recently commented on CGEM shares. HC Wainwright reissued a "buy" rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, April 16th. UBS Group reduced their price target on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $35.00 price target (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $32.00.
View Our Latest Report on Cullinan Therapeutics
Cullinan Therapeutics Price Performance
The stock has a 50 day simple moving average of $7.86 and a two-hundred day simple moving average of $9.76. The company has a market cap of $511.07 million, a PE ratio of -3.05 and a beta of -0.07.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released 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. As a group, equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.
Institutional Investors Weigh In On Cullinan Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of CGEM. Deerfield Management Company L.P. Series C boosted its stake in Cullinan Therapeutics by 3.0% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,379,399 shares of the company's stock valued at $41,161,000 after purchasing an additional 99,399 shares during the period. Vanguard Group Inc. lifted its holdings in Cullinan Therapeutics by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,039,731 shares of the company's stock worth $23,011,000 after acquiring an additional 103,504 shares in the last quarter. Blue Owl Capital Holdings LP lifted its holdings in shares of Cullinan Therapeutics by 17.9% in the fourth quarter. Blue Owl Capital Holdings LP now owns 2,370,972 shares of the company's stock valued at $28,878,000 after purchasing an additional 360,000 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Cullinan Therapeutics by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 2,199,709 shares of the company's stock valued at $26,792,000 after purchasing an additional 8,447 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Cullinan Therapeutics by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 2,011,525 shares of the company's stock worth $24,500,000 after acquiring an additional 157,115 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.
About Cullinan Therapeutics
(
Get Free Report)
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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