Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock Rated “Moderate Buy” by Sell-Side Analysts

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $33.86.

CGEM has been the topic of several research analyst reports. BTIG Research upped their price target on shares of Cullinan Therapeutics from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Wedbush boosted their target price on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Friday, October 2nd.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following the sale, the insider directly owned 162,844 shares of the company’s stock, valued at $3,299,219.44. This trade represents a 15.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Cullinan Therapeutics during the 2nd quarter valued at about $95,289,000. Blue Owl Capital Holdings LP bought a new position in Cullinan Therapeutics during the 2nd quarter worth approximately $28,039,000. Dimensional Fund Advisors LP increased its stake in Cullinan Therapeutics by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company’s stock worth $12,870,000 after purchasing an additional 57,259 shares during the period. Boone Capital Management LLC purchased a new position in Cullinan Therapeutics in the 2nd quarter worth approximately $12,828,000. Finally, Elmind Capital LP purchased a new position in Cullinan Therapeutics in the 2nd quarter worth approximately $12,564,900. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Trading Down 0.7%

Shares of NASDAQ:CGEM opened at $14.93 on Tuesday. The company has a 50 day moving average of $17.77 and a 200 day moving average of $15.79. The stock has a market cap of $960.82 million, a P/E ratio of -4.82 and a beta of -0.05. Cullinan Therapeutics has a 12 month low of $6.73 and a 12 month high of $23.19.

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

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer. The company builds a portfolio of targeted therapies and immune-modulating treatments designed to address significant unmet needs across hematologic malignancies and solid tumors.

Its development programs include investigational antibody-based therapies and other biologic approaches intended to selectively target cancer cells or activate the immune system. Among its programs are CLN-619, an antibody directed at the MICA and MICB proteins, CLN-418, an immune-activating bispecific molecule, and CLN-049, an investigational treatment designed to engage FLT3 and FLT3 ligand in certain blood cancers.