Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $32.00 Average PT from Analysts

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $32.00.

A number of analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a report on Monday, September 16th. William Blair reissued an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $18.09, for a total value of $144,720.00. Following the completion of the transaction, the insider now directly owns 115,942 shares of the company’s stock, valued at approximately $2,097,390.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.07% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Several hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its holdings in Cullinan Therapeutics by 31.0% in the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after purchasing an additional 615 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Cullinan Therapeutics by 81.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock valued at $153,000 after buying an additional 4,042 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cullinan Therapeutics by 73.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after buying an additional 3,758 shares in the last quarter. NEOS Investment Management LLC acquired a new position in Cullinan Therapeutics during the 4th quarter worth approximately $162,000. Finally, Quest Partners LLC bought a new position in Cullinan Therapeutics in the fourth quarter worth approximately $179,000. Institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Trading Up 1.2 %

NASDAQ:CGEM opened at $18.15 on Friday. The stock’s 50-day moving average is $18.08 and its 200-day moving average is $19.23. Cullinan Therapeutics has a 1-year low of $7.64 and a 1-year high of $30.19. The stock has a market cap of $1.05 billion, a P/E ratio of -5.80 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). As a group, equities analysts forecast that Cullinan Therapeutics will post -3.2 EPS for the current year.

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.