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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have been given an average rating of “Buy” by the seven analysts that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $31.67.

Several equities research analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. UBS Group began coverage on Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock.

Insider Activity

In related news, insider Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock in a transaction on Monday, January 6th. The shares were 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 of the company’s stock, valued at approximately $1,197,957.60. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nadim Ahmed sold 8,400 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total transaction of $99,708.00. Following the completion of the sale, the chief executive officer now directly owns 263,150 shares of the company’s stock, valued at approximately $3,123,590.50. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,582 shares of company stock worth $372,097 in the last ninety days. Company insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in Cullinan Therapeutics by 16.4% during the 2nd quarter. Rhumbline Advisers now owns 54,351 shares of the company’s stock worth $948,000 after buying an additional 7,649 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of Cullinan Therapeutics during the second quarter worth approximately $182,000. American Century Companies Inc. increased its position in shares of Cullinan Therapeutics by 32.9% during the second quarter. American Century Companies Inc. now owns 76,018 shares of the company’s stock worth $1,326,000 after purchasing an additional 18,840 shares in the last quarter. Renaissance Technologies LLC raised its stake in Cullinan Therapeutics by 31.3% in the 2nd quarter. Renaissance Technologies LLC now owns 421,708 shares of the company’s stock valued at $7,355,000 after purchasing an additional 100,608 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in Cullinan Therapeutics in the 2nd quarter valued at $2,595,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Cullinan Therapeutics Stock Down 0.4 %

Cullinan Therapeutics stock opened at $10.14 on Friday. Cullinan Therapeutics has a 52 week low of $9.50 and a 52 week high of $30.19. The stock has a 50-day moving average price of $12.65 and a 200 day moving average price of $15.68. The company has a market capitalization of $590.45 million, a price-to-earnings ratio of -3.57 and a beta of -0.14.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.09. Research analysts anticipate that Cullinan Therapeutics will post -3.12 EPS 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.