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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have received a consensus rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.50.

CGEM has been the subject of several research analyst reports. UBS Group assumed coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective for the company. HC Wainwright upped their price target on shares of Cullinan Therapeutics from $28.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 29th.

Cullinan Therapeutics Trading Down 1.1 %

NASDAQ:CGEM opened at $10.10 on Tuesday. Cullinan Therapeutics has a 1 year low of $9.50 and a 1 year high of $30.19. The stock has a 50-day moving average price of $11.36 and a two-hundred day moving average price of $14.75. The stock has a market cap of $588.12 million, a price-to-earnings ratio of -3.56 and a beta of -0.16.

Insider Buying and Selling at Cullinan Therapeutics

In other news, CEO Nadim Ahmed sold 8,400 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total value of $99,708.00. Following the completion of the transaction, the chief executive officer now owns 263,150 shares in the company, valued at $3,123,590.50. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Michaelson sold 4,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $12.51, for a total value of $50,040.00. Following the sale, the insider now owns 95,760 shares in the company, valued at $1,197,957.60. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,582 shares of company stock worth $246,977. Corporate insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in shares of Cullinan Therapeutics by 97.3% in the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after buying an additional 872 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Cullinan Therapeutics during the fourth quarter worth $136,000. China Universal Asset Management Co. Ltd. lifted its stake in Cullinan Therapeutics by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock valued at $150,000 after acquiring an additional 1,195 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Cullinan Therapeutics by 32.9% in the 4th quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock valued at $157,000 after acquiring an additional 3,200 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Cullinan Therapeutics in the 2nd quarter valued at about $186,000. 86.31% of the stock is currently owned by 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.