Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Average Rating of “Buy” by Analysts

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $31.67.

Several brokerages recently issued reports on CGEM. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. UBS Group assumed coverage on Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th.

Insider Transactions at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $15.64, for a total value of $125,120.00. Following the transaction, the insider now directly owns 107,942 shares of the company’s stock, valued at $1,688,212.88. The trade was a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Cullinan Therapeutics by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after buying an additional 820 shares in the last quarter. Amalgamated Bank lifted its holdings in Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after buying an additional 872 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Cullinan Therapeutics by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock worth $1,187,000 after buying an additional 2,377 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after buying an additional 3,758 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Cullinan Therapeutics by 22.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock worth $358,000 after buying an additional 3,881 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Up 1.3 %

Shares of CGEM opened at $12.96 on Thursday. Cullinan Therapeutics has a 12-month low of $7.64 and a 12-month high of $30.19. The firm has a market capitalization of $754.66 million, a price-to-earnings ratio of -4.56 and a beta of -0.18. The stock’s 50-day moving average price is $15.41 and its 200 day moving average price is $17.62.

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

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.