Analysts Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Price Target at $32.00

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $32.00.

CGEM has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, April 10th. Wedbush reissued an “outperform” rating and set a $37.00 target price on shares of Cullinan Therapeutics in a research report on Thursday, June 11th. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. BTIG Research reissued a “buy” rating and issued a $38.00 price target on shares of Cullinan Therapeutics in a research report on Tuesday, May 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a research report on Monday, June 8th.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $18.21 on Wednesday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.42 and a beta of -0.01. Cullinan Therapeutics has a one year low of $5.68 and a one year high of $19.43. The company’s fifty day moving average price is $14.89 and its two-hundred day moving average price is $13.44.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, May 7th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.09. As a group, sell-side analysts anticipate that Cullinan Therapeutics will post -3.06 earnings per share for the current year.

Insider Activity at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $14.62, for a total value of $116,960.00. Following the transaction, the insider owned 166,844 shares of the company’s stock, valued at $2,439,259.28. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cullinan Therapeutics by 1.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,051 shares of the company’s stock valued at $497,000 after purchasing an additional 888 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after purchasing an additional 1,036 shares during the last quarter. AlphaCentric Advisors LLC grew its position in shares of Cullinan Therapeutics by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock valued at $286,000 after purchasing an additional 1,094 shares during the last quarter. Kennedy Capital Management LLC grew its position in shares of Cullinan Therapeutics by 2.7% in the fourth quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company’s stock valued at $489,000 after purchasing an additional 1,255 shares during the last quarter. Finally, CWM LLC grew its position in shares of 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 last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

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.