Cullinan Therapeutics (NASDAQ:CGEM) Cut to Sell at Wall Street Zen

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

Other equities analysts have also issued reports about the stock. BTIG Research increased their price objective on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Cullinan Therapeutics in a research report on Monday, June 8th. Wedbush reissued an “outperform” rating and issued a $37.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, June 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.14.

Cullinan Therapeutics Trading Down 1.5%

Shares of NASDAQ:CGEM opened at $16.25 on Friday. The stock has a market capitalization of $998.73 million, a P/E ratio of -4.84 and a beta of 0.01. Cullinan Therapeutics has a 1-year low of $5.68 and a 1-year high of $19.43. The business has a 50-day moving average price of $16.43 and a two-hundred day moving average price of $14.63.

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

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $17.82, for a total value of $142,560.00. Following the completion of the sale, the insider directly owned 162,844 shares in the company, valued at $2,901,880.08. This represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its position in Cullinan Therapeutics by 62.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after acquiring an additional 1,036 shares in the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of Cullinan Therapeutics in the 4th quarter valued at about $31,000. CWM LLC lifted its holdings 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 in the last quarter. Royal Bank of Canada lifted its holdings in shares of Cullinan Therapeutics by 160.6% in the first quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock valued at $58,000 after purchasing an additional 2,492 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Cullinan Therapeutics by 689.7% during the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after buying an additional 3,607 shares during the period. 86.31% of the stock is currently 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.