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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have earned an average rating of "Buy" from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $31.67.

A number of research firms have recently commented on CGEM. UBS Group began coverage on shares of Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a "buy" rating and a $30.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th.

Cullinan Therapeutics Trading Up 1.2 %

NASDAQ CGEM traded up $0.12 during trading on Friday, reaching $10.26. The company's stock had a trading volume of 273,964 shares, compared to its average volume of 555,579. The stock has a market capitalization of $597.44 million, a PE ratio of -3.61 and a beta of -0.14. The business has a 50-day moving average price of $12.54 and a 200-day moving average price of $15.64. Cullinan Therapeutics has a 1-year low of $9.50 and a 1-year high of $30.19.

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

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 4,693 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $11.41, for a total value of $53,547.13. Following the sale, the insider now owns 99,760 shares of the company's stock, valued at $1,138,261.60. The trade was a 4.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nadim Ahmed sold 8,400 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were 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 in the company, valued at $3,123,590.50. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,582 shares of company stock valued at $372,097. 6.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CGEM. Amalgamated Bank lifted its position in Cullinan Therapeutics by 97.3% during the 3rd 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. Arizona State Retirement System acquired a new position in Cullinan Therapeutics during the 2nd quarter worth about $182,000. Squarepoint Ops LLC acquired a new position in Cullinan Therapeutics during the 2nd quarter worth about $186,000. China Universal Asset Management Co. Ltd. lifted its position in Cullinan Therapeutics by 64.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company's stock worth $187,000 after buying an additional 4,380 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Cullinan Therapeutics by 40.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,175 shares of the company's stock worth $265,000 after buying an additional 4,393 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

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.