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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have been assigned an average recommendation of "Buy" from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $34.80.

Several research analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. Morgan Stanley reaffirmed an "overweight" rating and set a $35.00 price target (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th.

Insider Buying and Selling

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the transaction, the chief executive officer now owns 430,621 shares in the company, valued at approximately $3,673,197.13. This trade represents a 2.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Alan Jones sold 4,895 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $41,754.35. Following the transaction, the insider now owns 174,164 shares of the company's stock, valued at approximately $1,485,618.92. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGEM. Deerfield Management Company L.P. Series C raised its stake in Cullinan Therapeutics by 3.0% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,379,399 shares of the company's stock valued at $41,161,000 after purchasing an additional 99,399 shares during the last quarter. Blue Owl Capital Holdings LP raised its holdings in Cullinan Therapeutics by 17.9% in the 4th quarter. Blue Owl Capital Holdings LP now owns 2,370,972 shares of the company's stock valued at $28,878,000 after acquiring an additional 360,000 shares during the last quarter. Franklin Resources Inc. lifted its stake in Cullinan Therapeutics by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 2,199,709 shares of the company's stock worth $26,792,000 after purchasing an additional 8,447 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Cullinan Therapeutics by 8.5% during the 4th quarter. Alliancebernstein L.P. now owns 2,011,525 shares of the company's stock worth $24,500,000 after purchasing an additional 157,115 shares during the last quarter. Finally, Orbimed Advisors LLC grew its position in shares of Cullinan Therapeutics by 81.5% in the fourth quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company's stock valued at $23,660,000 after purchasing an additional 872,500 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock traded up $0.14 during trading on Friday, hitting $7.90. The stock had a trading volume of 219,412 shares, compared to its average volume of 616,641. The firm's fifty day simple moving average is $8.20 and its 200-day simple moving average is $11.12. Cullinan Therapeutics has a 12 month low of $6.85 and a 12 month high of $30.19. The stock has a market cap of $462.25 million, a PE ratio of -2.78 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.02. Analysts expect 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.