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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $32.86.

CGEM has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a research note on Friday, February 28th.

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 8,400 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total transaction of $99,708.00. Following the transaction, the chief executive officer now owns 263,150 shares of the company’s stock, valued at approximately $3,123,590.50. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Michaelson sold 3,489 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $12.52, for a total transaction of $43,682.28. Following the transaction, the insider now directly owns 104,453 shares in the company, valued at $1,307,751.56. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,006 shares of company stock valued at $395,604. Company insiders own 6.07% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

A number of institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cullinan Therapeutics by 29.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,792 shares of the company’s stock valued at $1,118,000 after buying an additional 20,881 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Cullinan Therapeutics in the 4th quarter valued at about $2,038,000. Two Sigma Advisers LP boosted its holdings in shares of Cullinan Therapeutics by 22.3% in the 4th quarter. Two Sigma Advisers LP now owns 21,900 shares of the company’s stock valued at $267,000 after buying an additional 4,000 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Cullinan Therapeutics by 83.9% in the 4th quarter. Two Sigma Investments LP now owns 42,205 shares of the company’s stock valued at $514,000 after buying an additional 19,261 shares in the last quarter. Finally, Tema Etfs LLC bought a new stake in shares of Cullinan Therapeutics in the 4th quarter valued at about $346,000. 86.31% of the stock is currently owned by institutional investors.

Cullinan Therapeutics Trading Up 2.4 %

Shares of CGEM opened at $8.71 on Friday. Cullinan Therapeutics has a twelve month low of $7.90 and a twelve month high of $30.19. The company has a market cap of $509.65 million, a P/E ratio of -3.07 and a beta of -0.12. The company’s fifty day simple moving average is $10.20 and its 200-day simple moving average is $13.71.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02. Analysts predict that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal year.

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.