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 report issued on Saturday morning.

Several other equities analysts have also commented on CGEM. New Street Research set a $26.00 price objective on shares of Cullinan Therapeutics in a research report on Thursday, November 20th. Zacks Research raised Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. HC Wainwright raised their price target 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. Wedbush increased their price target on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.88.

Cullinan Therapeutics Price Performance

CGEM opened at $12.71 on Friday. Cullinan Therapeutics has a 1 year low of $5.68 and a 1 year high of $13.33. The firm has a market capitalization of $750.91 million, a PE ratio of -3.84 and a beta of -0.09. The business’s 50-day moving average is $11.03 and its two-hundred day moving average is $8.75.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.18. As a group, sell-side analysts expect that Cullinan Therapeutics will post -3.04 EPS for the current year.

Insiders Place Their Bets

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 9,922 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $10.01, for a total transaction of $99,319.22. Following the completion of the transaction, the chief executive officer owned 420,699 shares of the company’s stock, valued at $4,211,196.99. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacquelyn L. Sumer sold 3,480 shares of Cullinan Therapeutics stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $9.67, for a total transaction of $33,651.60. Following the sale, the insider owned 135,432 shares of the company’s stock, valued at approximately $1,309,627.44. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 33,420 shares of company stock worth $356,082. Company insiders own 6.07% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Hedge funds have recently made changes to their positions in the stock. CWM LLC raised its position in Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after purchasing an additional 1,318 shares during the period. Signaturefd LLC grew its stake in shares of Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after buying an additional 3,607 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Cullinan Therapeutics in the 3rd quarter valued at $62,000. Tower Research Capital LLC TRC lifted its stake in Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after acquiring an additional 2,523 shares in the last quarter. Finally, Inscription Capital LLC purchased a new position in Cullinan Therapeutics during the 3rd quarter valued at about $67,000. 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.