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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $28.2857.

A number of equities analysts have recently commented on CGEM shares. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Zacks Research upgraded shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. HC Wainwright lifted their price objective on Cullinan Therapeutics from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 20th. BTIG Research increased their target price on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, November 24th. Finally, Wedbush raised their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th.

Insider Buying and Selling at Cullinan Therapeutics

In other news, major shareholder Lynx1 Capital Management Lp bought 626,043 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was acquired at an average price of $6.70 per share, for a total transaction of $4,194,488.10. Following the transaction, the insider directly owned 8,271,786 shares of the company’s stock, valued at $55,420,966.20. This trade represents a 8.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey Alan Jones sold 4,632 shares of Cullinan Therapeutics stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $9.67, for a total transaction of $44,791.44. Following the transaction, the insider directly owned 169,532 shares of the company’s stock, valued at $1,639,374.44. This represents a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 1,874,057 shares of company stock valued at $13,325,286 and sold 29,420 shares valued at $306,882. Company insiders own 6.07% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Cullinan Therapeutics by 44.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after acquiring an additional 2,523 shares in the last quarter. SG Americas Securities LLC acquired a new position in Cullinan Therapeutics in the third quarter worth $62,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Cullinan Therapeutics during the second quarter worth $84,000. Inscription Capital LLC acquired a new stake in shares of Cullinan Therapeutics in the third quarter valued at $67,000. Finally, Massar Capital Management LP bought a new position in shares of Cullinan Therapeutics in the second quarter valued at about $101,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Trading Down 2.2%

Shares of NASDAQ:CGEM opened at $9.92 on Wednesday. The firm has a market capitalization of $586.07 million, a PE ratio of -3.00 and a beta of -0.10. Cullinan Therapeutics has a 1-year low of $5.68 and a 1-year high of $13.33. The business’s 50 day moving average is $9.62 and its 200-day moving average is $8.17.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.18. On average, sell-side analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current 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.