Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $31.67 Average Target Price from Brokerages

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has been assigned a consensus rating of "Buy" from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $31.67.

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

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $18.09, for a total transaction of $144,720.00. Following the completion of the sale, the insider now owns 115,942 shares in the company, valued at $2,097,390.78. This trade represents a 6.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.07% of the company's stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Hedge funds have recently bought and sold shares of the business. Amalgamated Bank grew its stake in Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company's stock valued at $30,000 after purchasing an additional 872 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company's stock valued at $155,000 after purchasing an additional 3,758 shares in the last quarter. Arizona State Retirement System acquired a new stake in Cullinan Therapeutics during the 2nd quarter valued at approximately $182,000. Squarepoint Ops LLC acquired a new stake in Cullinan Therapeutics during the 2nd quarter valued at approximately $186,000. Finally, China Universal Asset Management Co. Ltd. grew its stake 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 valued at $187,000 after purchasing an additional 4,380 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

Cullinan Therapeutics Stock Up 2.5 %

Shares of CGEM traded up $0.32 during trading hours on Thursday, reaching $13.09. 485,626 shares of the company traded hands, compared to its average volume of 651,491. The stock has a market capitalization of $762.20 million, a PE ratio of -4.61 and a beta of -0.12. Cullinan Therapeutics has a fifty-two week low of $7.64 and a fifty-two week high of $30.19. The stock has a fifty day simple moving average of $15.77 and a 200 day simple moving average of $18.01.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.09. Research analysts predict 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.