Cullinan Therapeutics (NASDAQ:CGEM) Stock Rating Reaffirmed by HC Wainwright

Cullinan Therapeutics (NASDAQ:CGEM)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $28.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 62.41% from the stock’s previous close.

CGEM has been the subject of several other reports. William Blair reissued an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Wedbush reissued an “outperform” rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a research report on Thursday, August 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $32.00.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM opened at $17.24 on Monday. The company’s 50-day moving average price is $18.02 and its two-hundred day moving average price is $19.25. Cullinan Therapeutics has a one year low of $7.64 and a one year high of $30.19. The stock has a market capitalization of $993.61 million, a PE ratio of -5.51 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.02). On average, analysts anticipate that Cullinan Therapeutics will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total value of $144,720.00. Following the transaction, the insider now directly owns 115,942 shares in the company, valued at $2,097,390.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.07% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of large investors have recently made changes to their positions in CGEM. Ameritas Investment Partners Inc. increased its position in Cullinan Therapeutics by 31.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after buying an additional 615 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Cullinan Therapeutics by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after purchasing an additional 820 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cullinan Therapeutics by 22.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock worth $294,000 after purchasing an additional 3,134 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cullinan Therapeutics by 73.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after buying an additional 3,758 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Cullinan Therapeutics by 81.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock valued at $153,000 after buying an additional 4,042 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.