Cullinan Therapeutics (NASDAQ:CGEM) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Cullinan Therapeutics (NASDAQ:CGEM) from a hold rating to a sell rating in a research note released on Sunday morning.

A number of other research analysts also recently issued reports on CGEM. HC Wainwright increased their price objective on Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Guggenheim began coverage on Cullinan Therapeutics in a research report on Monday, February 2nd. They set a “buy” rating and a $30.00 price target for the company. BTIG Research raised their price target on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, November 24th. Morgan Stanley reiterated an “overweight” rating and issued a $30.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Cullinan Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Cullinan Therapeutics Stock Up 3.2%

Shares of NASDAQ:CGEM opened at $12.23 on Friday. The firm has a market cap of $722.55 million, a price-to-earnings ratio of -3.69 and a beta of -0.09. Cullinan Therapeutics has a 12 month low of $5.68 and a 12 month high of $13.43. The company’s fifty day simple moving average is $11.09 and its 200 day simple moving average is $8.87.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.18. Research analysts expect that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $12.30, for a total value of $49,200.00. Following the completion of the sale, the insider owned 128,635 shares in the company, valued at $1,582,210.50. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nadim Ahmed sold 9,922 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $10.01, for a total transaction of $99,319.22. Following the completion of the transaction, the chief executive officer directly owned 420,699 shares of the company’s stock, valued at approximately $4,211,196.99. This trade represents a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 33,420 shares of company stock worth $356,082. 6.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds have recently bought and sold shares of CGEM. CWM LLC lifted its stake 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 purchasing an additional 1,318 shares during the last quarter. Signaturefd LLC raised its stake in Cullinan Therapeutics by 689.7% in the fourth 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 period. Tower Research Capital LLC TRC lifted its position in shares of Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after buying an additional 2,523 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cullinan Therapeutics by 29.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,909 shares of the company’s stock worth $103,000 after acquiring an additional 2,268 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in shares of Cullinan Therapeutics during the 4th quarter worth approximately $104,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.