Cullinan Therapeutics (NASDAQ:CGEM) Now Covered by Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a research note published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $22.00 target price on the stock.

Several other equities research analysts have also recently commented on CGEM. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price objective (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. Finally, UBS Group decreased their price objective on Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Therapeutics currently has an average rating of “Buy” and a consensus target price of $30.00.

Cullinan Therapeutics Stock Performance

Shares of Cullinan Therapeutics stock opened at $8.98 on Wednesday. Cullinan Therapeutics has a one year low of $6.85 and a one year high of $24.76. The company has a market cap of $529.95 million, a PE ratio of -3.16 and a beta of -0.04. The business has a 50-day simple moving average of $8.04 and a 200-day simple moving average of $9.55.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. On average, sell-side analysts predict that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of large investors have recently modified their holdings of CGEM. Brooklyn Investment Group purchased a new position in shares of Cullinan Therapeutics in the 1st quarter worth about $34,000. Federated Hermes Inc. raised its holdings in shares of Cullinan Therapeutics by 67.0% during the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock valued at $46,000 after buying an additional 1,525 shares during the period. GAMMA Investing LLC raised its holdings in shares of Cullinan Therapeutics by 1,214.8% during the 1st quarter. GAMMA Investing LLC now owns 6,995 shares of the company’s stock valued at $53,000 after buying an additional 6,463 shares during the period. Virtus ETF Advisers LLC raised its holdings in shares of Cullinan Therapeutics by 37.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock valued at $71,000 after buying an additional 1,600 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at about $77,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

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.