Brokerages Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Price Target at $31.67

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

Several analysts recently commented on the company. UBS Group started coverage on Cullinan Therapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $30.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Finally, Wedbush reissued an "outperform" rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th.

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 3,489 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total value of $43,682.28. Following the transaction, the insider now directly owns 104,453 shares of the company's stock, valued at $1,307,751.56. This represents a 3.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 16,182 shares of company stock valued at $222,349 in the last quarter. 6.07% of the stock is currently owned by insiders.

Institutional Trading of Cullinan Therapeutics

Several large investors have recently modified their holdings of CGEM. RTW Investments LP raised its position in Cullinan Therapeutics by 62.1% during the third quarter. RTW Investments LP now owns 1,705,960 shares of the company's stock valued at $28,558,000 after purchasing an additional 653,330 shares in the last quarter. Marshall Wace LLP boosted its stake in Cullinan Therapeutics by 2,416.9% in the second quarter. Marshall Wace LLP now owns 1,184,037 shares of the company's stock valued at $20,650,000 after buying an additional 1,136,993 shares in the last quarter. Braidwell LP raised its stake in Cullinan Therapeutics by 567.6% during the third quarter. Braidwell LP now owns 1,176,173 shares of the company's stock worth $19,689,000 after acquiring an additional 1,000,000 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Cullinan Therapeutics in the second quarter worth about $1,305,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cullinan Therapeutics by 14.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company's stock valued at $7,097,000 after purchasing an additional 53,328 shares during the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Price Performance

Shares of CGEM stock traded up $0.27 during trading hours on Monday, reaching $11.87. The company had a trading volume of 714,785 shares, compared to its average volume of 644,596. Cullinan Therapeutics has a 1-year low of $9.24 and a 1-year high of $30.19. The company has a 50 day moving average of $14.28 and a 200 day moving average of $16.60. The firm has a market cap of $691.17 million, a price-to-earnings ratio of -4.18 and a beta of -0.18.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts' consensus estimates of ($0.78) by $0.09. As a group, sell-side analysts forecast that Cullinan Therapeutics will post -3.12 EPS for the current fiscal year.

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.