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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have earned a consensus rating of "Buy" from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $32.86.

Several brokerages recently weighed in on CGEM. HC Wainwright restated a "buy" rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a research note on Friday, February 28th. Morgan Stanley restated an "overweight" rating and issued a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday.

Insider Activity

In related news, insider Jennifer Michaelson sold 3,489 shares of the 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 completion of the transaction, the insider now directly owns 104,453 shares of the company's stock, valued at approximately $1,307,751.56. This represents a 3.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Alan Jones sold 4,895 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 174,164 shares in the company, valued at $1,485,618.92. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,006 shares of company stock worth $395,604 over the last quarter. 6.07% of the stock is currently owned by corporate insiders.

Remove Ads

Institutional Trading of Cullinan Therapeutics

Large investors have recently bought and sold shares of the business. Amalgamated Bank boosted its holdings in shares of 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 purchasing an additional 872 shares during the last quarter. Federated Hermes Inc. lifted its position in 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 lifted its position in 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 acquired a new position in Cullinan Therapeutics during the fourth quarter worth $77,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Cullinan Therapeutics in the 4th quarter valued at $83,000. Hedge funds and other institutional investors own 86.31% of the company's stock.

Cullinan Therapeutics Stock Up 6.4 %

Shares of NASDAQ:CGEM traded up $0.52 during trading on Friday, hitting $8.67. 717,132 shares of the stock traded hands, compared to its average volume of 465,934. The company has a fifty day moving average price of $10.06 and a two-hundred day moving average price of $13.52. Cullinan Therapeutics has a 52-week low of $7.90 and a 52-week high of $30.19. The company has a market cap of $507.31 million, a price-to-earnings ratio of -3.05 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.02. On average, equities research analysts predict that Cullinan Therapeutics will post -3.04 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.