Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Average Rating of "Buy" by Analysts

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has been assigned an average rating of "Buy" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.50.

A number of research firms recently commented on CGEM. HC Wainwright lifted their target price on shares of Cullinan Therapeutics from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. UBS Group began coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a "buy" rating and a $30.00 target price for the company.

Insider Activity

In related news, insider Jennifer Michaelson sold 3,489 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total value of $43,682.28. Following the completion of the sale, the insider now owns 104,453 shares of the company's stock, valued at approximately $1,307,751.56. The trade was a 3.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sold a total of 20,582 shares of company stock valued at $246,977 in the last three months. 6.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Large investors have recently modified their holdings of the business. Amalgamated Bank grew its holdings in shares of Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company's stock worth $30,000 after buying an additional 872 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Cullinan Therapeutics by 67.0% during the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after buying an additional 1,525 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings in shares of Cullinan Therapeutics by 37.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock worth $71,000 after buying an additional 1,600 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Cullinan Therapeutics during the fourth quarter worth $77,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Cullinan Therapeutics during the fourth quarter worth $83,000. Hedge funds and other institutional investors own 86.31% of the company's stock.

Cullinan Therapeutics Stock Down 0.6 %

Shares of Cullinan Therapeutics stock traded down $0.06 on Tuesday, reaching $9.53. The stock had a trading volume of 280,815 shares, compared to its average volume of 476,340. The company has a 50 day moving average price of $11.11 and a 200 day moving average price of $14.54. Cullinan Therapeutics has a 1 year low of $9.47 and a 1 year high of $30.19. The stock has a market capitalization of $554.93 million, a P/E ratio of -3.36 and a beta of -0.16.

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.