Cullinan Therapeutics (NASDAQ:CGEM) Sees Large Volume Increase – Should You Buy?

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) saw unusually-high trading volume on Monday . Approximately 368,004 shares changed hands during trading, a decline of 36% from the previous session’s volume of 579,175 shares.The stock last traded at $11.0750 and had previously closed at $9.47.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Wednesday, October 8th. Wedbush restated an “outperform” rating and issued a $25.00 price target on shares of Cullinan Therapeutics in a research report on Thursday. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. BTIG Research boosted their price objective on Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Monday. Finally, New Street Research set a $26.00 target price on shares of Cullinan Therapeutics in a report on Thursday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Cullinan Therapeutics Stock Performance

The firm has a fifty day simple moving average of $7.34 and a two-hundred day simple moving average of $7.65. The firm has a market cap of $758.59 million, a PE ratio of -3.86 and a beta of -0.08.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.18. Equities analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Lynx1 Capital Management Lp purchased 165,667 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was bought at an average cost of $8.40 per share, for a total transaction of $1,391,602.80. Following the completion of the transaction, the insider directly owned 8,963,500 shares in the company, valued at $75,293,400. This represents a 1.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 1,874,057 shares of company stock worth $13,325,286. Corporate insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CGEM. Lynx1 Capital Management LP raised its holdings in shares of Cullinan Therapeutics by 31.0% in the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock worth $34,193,000 after buying an additional 1,365,248 shares during the period. Caption Management LLC increased its stake in Cullinan Therapeutics by 107.0% in the third quarter. Caption Management LLC now owns 28,389 shares of the company’s stock worth $168,000 after purchasing an additional 435,062 shares during the period. Nuveen LLC bought a new stake in shares of Cullinan Therapeutics during the first quarter worth $1,423,000. Algert Global LLC grew its holdings in shares of Cullinan Therapeutics by 411.5% in the first quarter. Algert Global LLC now owns 221,430 shares of the company’s stock worth $1,676,000 after purchasing an additional 178,138 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Cullinan Therapeutics by 1,665.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,685 shares of the company’s stock valued at $1,054,000 after buying an additional 167,623 shares during the period. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.