Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report)'s stock price rose 5.6% on Friday . The stock traded as high as $11.56 and last traded at $11.56. Approximately 77,589 shares traded hands during trading, a decline of 88% from the average daily volume of 641,031 shares. The stock had previously closed at $10.95.
Analyst Upgrades and Downgrades
CGEM has been the subject of a number of analyst reports. Wedbush reissued an "outperform" rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. UBS Group started coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $30.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cullinan Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $31.67.
Check Out Our Latest Stock Report on Cullinan Therapeutics
Cullinan Therapeutics Stock Up 5.9 %
The company has a market capitalization of $675.44 million, a PE ratio of -4.08 and a beta of -0.18. The company's 50 day moving average is $14.38 and its two-hundred day moving average is $16.76.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts' consensus estimates of ($0.78) by $0.09. Analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.
Insider Buying and Selling at Cullinan Therapeutics
In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics 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 transaction, the insider now directly owns 104,453 shares of the company's stock, valued at $1,307,751.56. This trade represents a 3.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 6.07% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in CGEM. RTW Investments LP raised its position in Cullinan Therapeutics by 62.1% during the third quarter. RTW Investments LP now owns 1,705,960 shares of the company's stock valued at $28,558,000 after purchasing an additional 653,330 shares during the period. Marshall Wace LLP increased its position in shares of Cullinan Therapeutics by 2,416.9% during the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company's stock valued at $20,650,000 after purchasing an additional 1,136,993 shares during the last quarter. Braidwell LP lifted its position in Cullinan Therapeutics by 567.6% in the third quarter. Braidwell LP now owns 1,176,173 shares of the company's stock worth $19,689,000 after buying an additional 1,000,000 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Cullinan Therapeutics during the second quarter worth $1,305,000. Finally, Charles Schwab Investment Management Inc. increased its position in Cullinan Therapeutics by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 423,959 shares of the company's stock valued at $7,097,000 after acquiring an additional 53,328 shares during the last quarter. Institutional investors own 86.31% of the company's stock.
Cullinan Therapeutics Company Profile
(
Get Free Report)
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.
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