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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has earned a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $32.00.

Several analysts have weighed in on the company. Wedbush reissued an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, August 8th. William Blair reaffirmed an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. HC Wainwright reaffirmed a “buy” rating and set a $28.00 target price on shares of Cullinan Therapeutics in a report on Monday, June 3rd. Finally, Stifel Nicolaus assumed coverage on Cullinan Therapeutics in a research note on Wednesday, May 1st. They issued a “buy” rating and a $40.00 price target on the stock.

Cullinan Therapeutics Stock Up 1.0 %

CGEM stock opened at $18.03 on Tuesday. The business has a fifty day moving average of $17.56 and a 200-day moving average of $19.21. The company has a market cap of $1.04 billion, a P/E ratio of -5.76 and a beta of -0.12. Cullinan Therapeutics has a twelve month low of $7.64 and a twelve month high of $30.19.

Insider Transactions at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $16.33, for a total transaction of $130,640.00. Following the sale, the insider now owns 123,942 shares of the company’s stock, valued at approximately $2,023,972.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.07% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Large investors have recently bought and sold shares of the business. Trexquant Investment LP acquired a new position in shares of Cullinan Therapeutics in the fourth quarter valued at approximately $356,000. SG Americas Securities LLC lifted its position in Cullinan Therapeutics by 757.2% in the 2nd quarter. SG Americas Securities LLC now owns 85,172 shares of the company’s stock valued at $1,485,000 after acquiring an additional 75,236 shares in the last quarter. Parkman Healthcare Partners LLC boosted its stake in Cullinan Therapeutics by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock worth $5,399,000 after purchasing an additional 91,132 shares during the period. Quest Partners LLC bought a new position in Cullinan Therapeutics during the 4th quarter worth about $179,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cullinan Therapeutics by 22.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock valued at $294,000 after purchasing an additional 3,134 shares during the period. 86.31% of the stock is owned by institutional investors.

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.