Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Consensus Rating of “Buy” by Brokerages

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has received an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $32.00.

A number of equities research analysts have recently weighed in on CGEM shares. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of Cullinan Therapeutics in a report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Cullinan Therapeutics in a report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd.

Cullinan Therapeutics Stock Up 1.2 %

Cullinan Therapeutics stock opened at $18.15 on Friday. Cullinan Therapeutics has a twelve month low of $7.64 and a twelve month high of $30.19. The stock has a market cap of $1.05 billion, a P/E ratio of -5.80 and a beta of -0.12. The company’s 50-day moving average price is $18.08 and its two-hundred day moving average price is $19.23.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly 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). Equities analysts anticipate that Cullinan Therapeutics will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total transaction of $144,720.00. Following the sale, the insider now owns 115,942 shares in the company, valued at approximately $2,097,390.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.07% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CGEM. Franklin Resources Inc. raised its stake in Cullinan Therapeutics by 13.5% during the fourth quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock worth $33,436,000 after acquiring an additional 390,505 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in Cullinan Therapeutics by 188.1% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company’s stock worth $57,207,000 after purchasing an additional 2,141,706 shares in the last quarter. Marshall Wace LLP lifted its stake in Cullinan Therapeutics by 2,416.9% in the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after purchasing an additional 1,136,993 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in Cullinan Therapeutics in the second quarter valued at approximately $13,079,000. Finally, Parkman Healthcare Partners LLC grew its stake in shares of Cullinan Therapeutics by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock worth $5,399,000 after buying an additional 91,132 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

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.