Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Average Recommendation of “Buy” by Analysts

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been given a consensus rating of “Buy” by the seven research firms that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $31.67.

CGEM has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Finally, UBS Group started coverage on shares of Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective on the stock.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $11.60 on Monday. The company has a 50 day moving average price of $14.28 and a 200-day moving average price of $16.64. Cullinan Therapeutics has a fifty-two week low of $8.49 and a fifty-two week high of $30.19. The stock has a market capitalization of $675.44 million, a PE ratio of -4.08 and a beta of -0.18.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.09. Equities research analysts forecast that Cullinan Therapeutics will post -3.12 EPS for the current year.

Insider Transactions at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28. Following the completion of the sale, the insider now owns 104,453 shares of the company’s stock, valued at $1,307,751.56. The trade was a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 16,182 shares of company stock worth $222,349. Insiders own 6.07% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Cullinan Therapeutics by 23.8% in the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock worth $20,233,000 after acquiring an additional 231,935 shares during the period. Barclays PLC grew its position in Cullinan Therapeutics by 26.0% during the 3rd quarter. Barclays PLC now owns 248,614 shares of the company’s stock worth $4,161,000 after purchasing an additional 51,300 shares during the period. Y Intercept Hong Kong Ltd grew its position in Cullinan Therapeutics by 40.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 25,369 shares of the company’s stock worth $425,000 after purchasing an additional 7,343 shares during the period. Wellington Management Group LLP raised its stake in shares of Cullinan Therapeutics by 47.1% during the 3rd quarter. Wellington Management Group LLP now owns 106,025 shares of the company’s stock valued at $1,775,000 after buying an additional 33,927 shares during the last quarter. Finally, Sphera Funds Management LTD. acquired a new stake in Cullinan Therapeutics during the third quarter worth about $3,111,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

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.