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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $30.75.

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, April 10th. Guggenheim initiated coverage on shares of Cullinan Therapeutics in a research report on Monday, February 2nd. They set a “buy” rating and a $30.00 target price on the stock. Wedbush boosted their target price on shares of Cullinan Therapeutics from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, BTIG Research reissued a “buy” rating and set a $38.00 target price on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th.

Insider Activity at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $14.62, for a total transaction of $116,960.00. Following the transaction, the insider directly owned 166,844 shares of the company’s stock, valued at approximately $2,439,259.28. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CGEM. Lynx1 Capital Management LP raised its holdings in Cullinan Therapeutics by 31.0% in the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after acquiring an additional 1,365,248 shares in the last quarter. Blue Owl Capital Holdings LP raised its holdings in Cullinan Therapeutics by 5.2% in the third quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company’s stock valued at $14,890,000 after acquiring an additional 125,000 shares in the last quarter. State Street Corp raised its holdings in Cullinan Therapeutics by 31.0% in the fourth quarter. State Street Corp now owns 2,197,338 shares of the company’s stock valued at $22,742,000 after acquiring an additional 520,024 shares in the last quarter. Affinity Asset Advisors LLC raised its holdings in Cullinan Therapeutics by 632.4% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock valued at $19,997,000 after acquiring an additional 1,668,289 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Cullinan Therapeutics by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,302,262 shares of the company’s stock valued at $13,481,000 after acquiring an additional 6,942 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Stock Up 7.0%

Shares of CGEM stock opened at $16.44 on Friday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -4.89 and a beta of -0.09. Cullinan Therapeutics has a fifty-two week low of $5.68 and a fifty-two week high of $16.74. The firm’s 50 day moving average price is $14.36 and its two-hundred day moving average price is $12.62.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.09. On average, equities analysts forecast that Cullinan Therapeutics will post -3.07 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.