Analysts Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Target Price at $31.67

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) has been given a consensus recommendation of "Buy" by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $31.67.

A number of equities research analysts have recently weighed in on CGEM shares. Wedbush reiterated an "outperform" rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Finally, UBS Group started coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They set a "buy" rating and a $30.00 price objective for the company.

Insider Activity at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction 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 approximately $2,097,390.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.07% of the company's stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 acquiring an additional 872 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Cullinan Therapeutics by 31.0% during the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company's stock valued at $44,000 after purchasing an additional 615 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cullinan Therapeutics by 73.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company's stock valued at $155,000 after buying an additional 3,758 shares during the period. Arizona State Retirement System purchased a new stake in Cullinan Therapeutics in the 2nd quarter worth approximately $182,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at $186,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ CGEM traded up $0.23 during midday trading on Friday, reaching $15.78. 463,515 shares of the company's stock were exchanged, compared to its average volume of 350,601. Cullinan Therapeutics has a 52-week low of $7.64 and a 52-week high of $30.19. The business's fifty day moving average price is $17.11 and its two-hundred day moving average price is $19.16. The stock has a market capitalization of $914.92 million, a PE ratio of -5.16 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.02). Analysts predict that Cullinan Therapeutics will post -3.2 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.