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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $29.3333.

A number of analysts recently commented on the stock. HC Wainwright upped their price objective on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Guggenheim started coverage on Cullinan Therapeutics in a research note on Monday, February 2nd. They issued a “buy” rating and a $30.00 target price for the company. Wedbush increased their price target on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Monday, December 29th. Finally, Zacks Research upgraded Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st.

Insider Activity at Cullinan Therapeutics

In other news, insider Jacquelyn L. Sumer sold 3,480 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $9.67, for a total transaction of $33,651.60. Following the completion of the sale, the insider owned 135,432 shares of the company’s stock, valued at $1,309,627.44. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nadim Ahmed sold 9,922 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $10.01, for a total transaction of $99,319.22. Following the completion of the sale, the chief executive officer directly owned 420,699 shares in the company, valued at $4,211,196.99. This represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,836 shares of company stock worth $361,087 over the last ninety days. 7.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CGEM. Caitong International Asset Management Co. Ltd raised its position in Cullinan Therapeutics by 62.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after buying an additional 1,036 shares during the last quarter. CWM LLC boosted its position in Cullinan Therapeutics by 51.5% during the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after acquiring an additional 1,318 shares during the last quarter. Signaturefd LLC grew its stake in shares of Cullinan Therapeutics by 689.7% during the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after acquiring an additional 3,607 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after purchasing an additional 2,523 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at approximately $99,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Stock Performance

CGEM opened at $12.44 on Thursday. The firm’s fifty day moving average is $11.20 and its two-hundred day moving average is $9.08. The firm has a market cap of $734.96 million, a PE ratio of -3.76 and a beta of -0.09. Cullinan Therapeutics has a twelve month low of $5.68 and a twelve month high of $13.43.

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.