Brokerages Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Target Price at $29.56

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $29.5556.

Several research analysts have commented on the stock. HC Wainwright boosted their price objective on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Monday, December 29th. Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Zacks Research cut Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Citigroup assumed coverage on Cullinan Therapeutics in a research report on Tuesday, February 17th. They set a “buy” rating and a $33.00 price objective for the company.

Insider Activity

In other news, insider Jacquelyn L. Sumer sold 3,742 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $13.62, for a total value of $50,966.04. Following the completion of the transaction, the insider owned 131,690 shares of the company’s stock, valued at approximately $1,793,617.80. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Michaelson sold 11,742 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $14.08, for a total transaction of $165,327.36. Following the completion of the sale, the insider owned 181,977 shares in the company, valued at approximately $2,562,236.16. The trade was a 6.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 92,414 shares of company stock valued at $1,261,878. Corporate insiders own 7.16% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Cullinan Therapeutics by 62.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after acquiring an additional 1,036 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in Cullinan Therapeutics during the 4th quarter worth $31,000. CWM LLC increased its holdings in 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 in the last quarter. Signaturefd LLC increased its holdings in Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after purchasing an additional 3,607 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in 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 purchasing an additional 2,523 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Down 2.5%

Shares of Cullinan Therapeutics stock opened at $12.75 on Monday. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $16.74. The company has a market capitalization of $771.64 million, a price-to-earnings ratio of -3.81 and a beta of -0.15. The firm’s 50-day moving average price is $12.97 and its two-hundred day moving average price is $10.12.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Tuesday, March 10th. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.03. On average, sell-side analysts expect that Cullinan Therapeutics will post -3.04 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.