Cullinan Therapeutics (NASDAQ:CGEM) Price Target Raised to $33.00 at HC Wainwright

Cullinan Therapeutics (NASDAQ:CGEM) had its price objective upped by equities researchers at HC Wainwright from $28.00 to $33.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 181.09% from the company’s current price.

Separately, UBS Group started coverage on shares of Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $32.50.

Cullinan Therapeutics Stock Performance

Shares of Cullinan Therapeutics stock traded up $1.29 during trading on Wednesday, reaching $11.74. The company’s stock had a trading volume of 350,775 shares, compared to its average volume of 484,198. The business’s fifty day moving average price is $11.79 and its 200-day moving average price is $15.29. The firm has a market cap of $683.62 million, a price-to-earnings ratio of -4.13 and a beta of -0.14. Cullinan Therapeutics has a one year low of $9.50 and a one year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.09. Sell-side analysts anticipate that Cullinan Therapeutics will post -3.12 EPS for the current year.

Insider Transactions at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 3,489 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total value of $43,682.28. Following the completion of the transaction, the insider now owns 104,453 shares of the company’s stock, valued at $1,307,751.56. The trade was a 3.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total value of $99,708.00. Following the transaction, the chief executive officer now owns 263,150 shares in the company, valued at $3,123,590.50. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,582 shares of company stock worth $372,097 in the last quarter. 6.07% of the stock is owned by company insiders.

Institutional Trading of Cullinan Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its holdings in Cullinan Therapeutics by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after purchasing an additional 1,195 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Cullinan Therapeutics during the 4th quarter valued at $136,000. SG Americas Securities LLC lifted its holdings in Cullinan Therapeutics by 54.1% during the 4th quarter. SG Americas Securities LLC now owns 23,201 shares of the company’s stock valued at $283,000 after purchasing an additional 8,144 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Cullinan Therapeutics by 43.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock valued at $374,000 after purchasing an additional 9,385 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Cullinan Therapeutics by 25.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock valued at $487,000 after purchasing an additional 5,842 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

About Cullinan Therapeutics

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.