Cullinan Therapeutics (NASDAQ:CGEM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cullinan Therapeutics (NASDAQ:CGEM) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other brokerages have also issued reports on CGEM. TD Cowen upgraded shares of Cullinan Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. BTIG Research restated a “buy” rating and set a $40.00 price target on shares of Cullinan Therapeutics in a research report on Friday, September 25th. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. Wedbush upped their price target on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.71.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $14.95 on Friday. Cullinan Therapeutics has a 1-year low of $6.73 and a 1-year high of $23.19. The business’s fifty day moving average price is $19.36 and its two-hundred day moving average price is $16.85. The company has a market capitalization of $962.18 million, a P/E ratio of -4.82 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). On average, research analysts expect that Cullinan Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jennifer Michaelson sold 30,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the sale, the insider owned 162,844 shares of the company’s stock, valued at approximately $3,299,219.44. The trade was a 15.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Several institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Cullinan Therapeutics during the second quarter valued at about $25,000. Seven Fleet Capital Management LP bought a new stake in Cullinan Therapeutics in the fourth quarter worth about $31,000. GAMMA Investing LLC lifted its holdings in Cullinan Therapeutics by 38.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock valued at $41,000 after acquiring an additional 738 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Cullinan Therapeutics by 181.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,680 shares of the company’s stock valued at $48,000 after acquiring an additional 3,020 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in Cullinan Therapeutics in the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer and autoimmune diseases. The company uses a portfolio-based approach to advance targeted therapies and immune-modulating treatments intended to address significant unmet medical needs.

Cullinan’s pipeline includes zovoltamab brengitecan (CLN-978), an investigational CD19-directed T-cell engager being studied in B-cell malignancies and autoimmune conditions, and CLN-619, an investigational antibody designed to target MICA and MICB proteins and stimulate anti-tumor immune responses.