HC Wainwright reiterated their buy rating on shares of Cullinan Therapeutics (NASDAQ:CGEM – Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $28.00 target price on the stock.
Separately, Wedbush reissued an “outperform” rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $32.00.
Read Our Latest Report on CGEM
Cullinan Therapeutics Stock Performance
Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.02). On average, equities analysts expect that Cullinan Therapeutics will post -3.2 EPS for the current year.
Insider Buying and Selling
In other news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $18.09, for a total value of $144,720.00. Following the transaction, the insider now owns 115,942 shares in the company, valued at $2,097,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.07% of the company’s stock.
Hedge Funds Weigh In On Cullinan Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Deerfield Management Company L.P. Series C raised its holdings in Cullinan Therapeutics by 188.1% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,280,237 shares of the company’s stock valued at $57,207,000 after acquiring an additional 2,141,706 shares during the last quarter. Marshall Wace LLP grew its holdings in Cullinan Therapeutics by 2,416.9% in the 2nd quarter. Marshall Wace LLP now owns 1,184,037 shares of the company’s stock valued at $20,650,000 after buying an additional 1,136,993 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Cullinan Therapeutics in the 2nd quarter worth $13,079,000. Renaissance Technologies LLC raised its holdings in shares of Cullinan Therapeutics by 31.3% during the 2nd quarter. Renaissance Technologies LLC now owns 421,708 shares of the company’s stock worth $7,355,000 after acquiring an additional 100,608 shares during the period. Finally, Lynx1 Capital Management LP acquired a new position in shares of Cullinan Therapeutics during the 2nd quarter valued at about $6,581,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.
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.
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