Brokerages Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Target Price at $28.71

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $28.7143.

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research note on Monday, December 29th. New Street Research set a $26.00 target price on shares of Cullinan Therapeutics in a report on Thursday, November 20th. Zacks Research raised shares of Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Wedbush boosted their price objective on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th.

Insider Buying and Selling

In related news, insider Jennifer Michaelson sold 4,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $12.30, for a total value of $49,200.00. Following the completion of the transaction, the insider owned 128,635 shares of the company’s stock, valued at $1,582,210.50. The trade was a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nadim Ahmed sold 9,922 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $10.01, for a total value of $99,319.22. Following the completion of the sale, the chief executive officer directly owned 420,699 shares in the company, valued at approximately $4,211,196.99. This represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 33,420 shares of company stock worth $356,082. 6.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its position in shares of Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after buying an additional 1,318 shares during the last quarter. Signaturefd LLC boosted its holdings in 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 acquiring an additional 3,607 shares during the last quarter. Tower Research Capital LLC TRC increased its position 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 valued at $62,000 after purchasing an additional 2,523 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cullinan Therapeutics by 29.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,909 shares of the company’s stock valued at $103,000 after purchasing an additional 2,268 shares during the period. Finally, SG Americas Securities LLC bought a new position in Cullinan Therapeutics during the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Performance

NASDAQ:CGEM opened at $12.34 on Friday. The stock has a 50-day simple moving average of $10.85 and a 200 day simple moving average of $8.62. Cullinan Therapeutics has a 52-week low of $5.68 and a 52-week high of $13.33. The company has a market cap of $729.00 million, a PE ratio of -3.73 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.18. On average, research analysts predict that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal 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.