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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.00.

Several research analysts recently issued reports on CGEM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, April 10th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research report on Monday, June 8th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. BTIG Research reiterated a “buy” rating and set a $38.00 price target on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th. Finally, Wedbush reiterated an “outperform” rating and set a $37.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, June 11th.

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,439,259.28. This represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CGEM. Dynamic Technology Lab Private Ltd acquired a new position in Cullinan Therapeutics during the 1st quarter valued at about $163,000. Jane Street Group LLC lifted its position in Cullinan Therapeutics by 145.9% during the 1st quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock valued at $260,000 after purchasing an additional 109,413 shares during the period. Acadian Asset Management LLC acquired a new position in Cullinan Therapeutics during the 1st quarter valued at about $618,000. Creative Planning lifted its position in Cullinan Therapeutics by 222.2% during the 2nd quarter. Creative Planning now owns 41,723 shares of the company’s stock valued at $314,000 after purchasing an additional 28,773 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Cullinan Therapeutics by 122.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 97,069 shares of the company’s stock valued at $731,000 after purchasing an additional 53,522 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Therapeutics Stock Up 2.6%

Shares of NASDAQ CGEM opened at $17.75 on Wednesday. The firm’s 50-day simple moving average is $14.54 and its 200 day simple moving average is $13.21. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -5.28 and a beta of -0.01. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $17.98.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.09. On average, equities analysts expect that Cullinan Therapeutics will post -3.06 earnings per share 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.