Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Consensus Rating of “Buy” by Analysts

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have earned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $32.00.

Several analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of Cullinan Therapeutics in a report on Monday, June 3rd. Stifel Nicolaus assumed coverage on shares of Cullinan Therapeutics in a report on Wednesday, May 1st. They issued a “buy” rating and a $40.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Cullinan Therapeutics in a report on Monday, June 3rd. BTIG Research lifted their price objective on shares of Cullinan Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Jonestrading lifted their price objective on shares of Cullinan Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, April 17th.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM opened at $18.76 on Friday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -5.99 and a beta of -0.12. The firm’s 50 day simple moving average is $19.31 and its 200 day simple moving average is $18.80. Cullinan Therapeutics has a fifty-two week low of $7.64 and a fifty-two week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Wednesday, May 15th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. Equities research analysts expect that Cullinan Therapeutics will post -3.02 earnings per share for the current year.

Insider Activity at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 58,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $28.07, for a total value of $1,628,060.00. Following the completion of the transaction, the insider now directly owns 129,582 shares of the company’s stock, valued at $3,637,366.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGEM. Citigroup Inc. boosted its position in Cullinan Therapeutics by 186.1% during the third quarter. Citigroup Inc. now owns 23,534 shares of the company’s stock worth $213,000 after purchasing an additional 15,308 shares during the period. SG Americas Securities LLC boosted its position in shares of Cullinan Therapeutics by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 14,449 shares of the company’s stock valued at $147,000 after acquiring an additional 1,587 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Cullinan Therapeutics by 352.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after acquiring an additional 3,859 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at about $102,000. Finally, Bailard Inc. bought a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at about $110,000. 86.31% of the stock is owned by institutional investors.

About Cullinan Therapeutics

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.