Guggenheim Initiates Coverage on Cullinan Therapeutics (NASDAQ:CGEM)

Stock analysts at Guggenheim started coverage on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a report released on Monday, Marketbeat reports. The firm set a “buy” rating and a $30.00 price target on the stock. Guggenheim’s price objective points to a potential upside of 127.10% from the stock’s previous close.

A number of other equities research analysts have also weighed in on CGEM. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Monday, December 29th. New Street Research set a $26.00 price objective on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. BTIG Research increased their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Finally, HC Wainwright boosted their target price on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Cullinan Therapeutics Stock Performance

Shares of Cullinan Therapeutics stock opened at $13.21 on Monday. The stock has a market cap of $780.45 million, a PE ratio of -3.99 and a beta of -0.09. Cullinan Therapeutics has a 52-week low of $5.68 and a 52-week high of $13.43. The firm has a 50-day moving average of $11.06 and a 200-day moving average of $8.79.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.18. Equities research analysts predict that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal year.

Insider Activity at Cullinan Therapeutics

In related news, insider Jacquelyn L. Sumer sold 3,480 shares of Cullinan Therapeutics stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $9.67, for a total value of $33,651.60. Following the completion of the sale, the insider owned 135,432 shares of the company’s stock, valued at approximately $1,309,627.44. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Michaelson sold 4,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $12.30, for a total transaction of $49,200.00. Following the completion of the transaction, the insider directly owned 128,635 shares in the company, valued at $1,582,210.50. This trade represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 33,420 shares of company stock worth $356,082 over the last quarter. Company insiders own 6.07% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Several large investors have recently bought and sold shares of CGEM. CWM LLC raised its holdings in shares of Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after purchasing an additional 1,318 shares during the period. Signaturefd LLC increased its position in Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after buying an additional 3,607 shares during the last quarter. Tower Research Capital LLC TRC raised its stake 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 buying an additional 2,523 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cullinan Therapeutics by 29.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,909 shares of the company’s stock valued at $103,000 after buying an additional 2,268 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Cullinan Therapeutics during the 3rd quarter valued at $62,000. 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.