Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report)'s share price was up 9.2% during mid-day trading on Thursday . The company traded as high as $8.56 and last traded at $8.56. Approximately 417,414 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 574,425 shares. The stock had previously closed at $7.84.
Analysts Set New Price Targets
Several brokerages have recently weighed in on CGEM. HC Wainwright reiterated a "buy" rating and set a $33.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, April 16th. UBS Group dropped their price target on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Morgan Stanley reissued an "overweight" rating and set a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Therapeutics presently has an average rating of "Buy" and a consensus price target of $32.00.
Read Our Latest Analysis on Cullinan Therapeutics
Cullinan Therapeutics Stock Up 1.2%
The firm has a market cap of $516.38 million, a P/E ratio of -3.08 and a beta of -0.07. The firm's fifty day moving average is $7.86 and its two-hundred day moving average is $9.73.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, beating analysts' consensus estimates of ($0.78) by $0.04. As a group, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in Cullinan Therapeutics by 580.9% in the fourth quarter. JPMorgan Chase & Co. now owns 198,214 shares of the company's stock worth $2,414,000 after purchasing an additional 169,104 shares during the period. Barclays PLC boosted its position in shares of Cullinan Therapeutics by 26.0% in the 3rd quarter. Barclays PLC now owns 248,614 shares of the company's stock worth $4,161,000 after purchasing an additional 51,300 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Cullinan Therapeutics by 32.9% in the 4th quarter. New York State Common Retirement Fund now owns 12,918 shares of the company's stock worth $157,000 after purchasing an additional 3,200 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Cullinan Therapeutics by 8.5% in the 4th quarter. Rhumbline Advisers now owns 68,208 shares of the company's stock worth $831,000 after buying an additional 5,348 shares during the last quarter. Finally, Invesco Ltd. increased its position in Cullinan Therapeutics by 2.4% during the 4th quarter. Invesco Ltd. now owns 59,553 shares of the company's stock valued at $725,000 after buying an additional 1,395 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors.
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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