Analysts Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Target Price at $30.00

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has received an average rating of “Buy” from the five research firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $30.00.

A number of research firms have weighed in on CGEM. UBS Group decreased their target price on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Stifel Nicolaus began coverage on shares of Cullinan Therapeutics in a research note on Wednesday, June 11th. They set a “buy” rating and a $22.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 target price (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th.

Institutional Trading of Cullinan Therapeutics

Several institutional investors have recently modified their holdings of CGEM. Brooklyn Investment Group bought a new stake in shares of Cullinan Therapeutics in the first quarter worth $34,000. Federated Hermes Inc. grew its stake in shares of Cullinan Therapeutics by 67.0% in the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock worth $46,000 after purchasing an additional 1,525 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cullinan Therapeutics by 1,214.8% in the first quarter. GAMMA Investing LLC now owns 6,995 shares of the company’s stock worth $53,000 after purchasing an additional 6,463 shares during the last quarter. Virtus ETF Advisers LLC grew its stake in shares of Cullinan Therapeutics by 37.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock worth $71,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Cullinan Therapeutics in the fourth quarter worth $77,000. Institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM opened at $8.74 on Friday. The company’s 50 day simple moving average is $8.13 and its 200 day simple moving average is $9.41. The stock has a market capitalization of $515.79 million, a price-to-earnings ratio of -3.08 and a beta of -0.04. Cullinan Therapeutics has a 1 year low of $6.85 and a 1 year high of $21.01.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. As a group, analysts anticipate that Cullinan Therapeutics will post -3.04 EPS for the current fiscal year.

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.