Cullinan Therapeutics (NASDAQ:CGEM) Price Target Raised to $39.00

Cullinan Therapeutics (NASDAQ:CGEM) had its target price hoisted by BTIG Research from $38.00 to $39.00 in a research note published on Wednesday, Marketbeat reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on CGEM. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a report on Monday, June 8th. Wedbush reaffirmed an “outperform” rating and set a $37.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.14.

Cullinan Therapeutics Trading Down 5.8%

Shares of CGEM stock opened at $16.50 on Wednesday. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $19.43. The firm’s 50 day moving average is $16.38 and its 200 day moving average is $14.57. The stock has a market capitalization of $1.01 billion, a P/E ratio of -4.91 and a beta of -0.01.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.09. As a group, equities analysts predict that Cullinan Therapeutics will post -3.06 earnings per share for the current year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $17.82, for a total transaction of $142,560.00. Following the sale, the insider directly owned 162,844 shares of the company’s stock, valued at $2,901,880.08. The trade was a 4.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Several large investors have recently modified their holdings of CGEM. Caitong International Asset Management Co. Ltd lifted its position in 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 worth $28,000 after buying an additional 1,036 shares during the last quarter. Seven Fleet Capital Management LP purchased a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at $31,000. CWM LLC lifted its holdings in shares of Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after acquiring an additional 1,318 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after acquiring an additional 3,607 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of 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 purchasing an additional 2,492 shares during the period. Institutional investors own 86.31% of the company’s stock.

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.