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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $32.00.

CGEM has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Cullinan Therapeutics in a research report on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. BTIG Research reaffirmed a “buy” rating and issued a $38.00 price target on shares of Cullinan Therapeutics in a research note on Tuesday, May 19th. Wedbush reiterated an “outperform” rating and issued a $37.00 price target on shares of Cullinan Therapeutics in a report on Thursday, June 11th. Finally, Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, June 14th.

Cullinan Therapeutics Trading Down 2.1%

CGEM stock opened at $17.28 on Friday. Cullinan Therapeutics has a 1-year low of $5.68 and a 1-year high of $19.43. The firm has a market cap of $1.06 billion, a PE ratio of -5.14 and a beta of -0.01. The business’s 50-day moving average price is $16.06 and its two-hundred day moving average price is $14.32.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.09. On average, analysts forecast that Cullinan Therapeutics will post -3.06 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $17.82, for a total value of $142,560.00. Following the sale, the insider directly owned 162,844 shares of the company’s stock, valued at approximately $2,901,880.08. The trade was a 4.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after purchasing an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP bought a new position in shares of Cullinan Therapeutics during the fourth quarter worth about $31,000. CWM LLC raised its position in Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after buying an additional 1,318 shares during the last quarter. Signaturefd LLC raised its position in Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after buying an additional 3,607 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Cullinan Therapeutics by 160.6% during the 1st quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock worth $58,000 after acquiring an additional 2,492 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

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.