Cullinan Therapeutics (NASDAQ:CGEM) Earns Buy Rating from Analysts at Guggenheim

Guggenheim assumed coverage on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a report released on Monday, MarketBeat reports. The firm issued a buy rating and a $30.00 price objective on the stock.

Other equities analysts have also issued reports about the company. Zacks Research raised Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Wedbush upped their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley reiterated an “overweight” rating and set a $30.00 target price on shares of Cullinan Therapeutics in a report on Thursday, January 8th. Finally, BTIG Research lifted their target price on Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Cullinan Therapeutics Trading Down 6.7%

Cullinan Therapeutics stock opened at $12.33 on Monday. The firm has a market cap of $728.46 million, a price-to-earnings ratio of -3.73 and a beta of -0.09. The stock has a fifty day simple moving average of $11.07 and a two-hundred day simple moving average of $8.81. Cullinan Therapeutics has a 12 month low of $5.68 and a 12 month high of $13.43.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.18. On average, equities research analysts forecast that Cullinan Therapeutics will post -3.04 EPS for the current fiscal year.

Insider Activity

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $12.30, for a total value of $49,200.00. Following the sale, the insider directly owned 128,635 shares of the company’s stock, valued at approximately $1,582,210.50. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacquelyn L. Sumer sold 3,480 shares of Cullinan Therapeutics stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $9.67, for a total transaction of $33,651.60. Following the completion of the sale, the insider owned 135,432 shares in the company, valued at approximately $1,309,627.44. This trade represents a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,420 shares of company stock worth $356,082 over the last 90 days. Company insiders own 7.16% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Several large investors have recently made changes to their positions in CGEM. Dynamic Technology Lab Private Ltd acquired a new position in Cullinan Therapeutics during the first quarter worth about $163,000. Jane Street Group LLC grew its stake in shares of Cullinan Therapeutics by 145.9% in the first quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock valued at $260,000 after buying an additional 109,413 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cullinan Therapeutics in the first quarter valued at approximately $618,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cullinan Therapeutics in the second quarter valued at $84,000. Finally, Corton Capital Inc. boosted its stake in shares of Cullinan Therapeutics by 28.9% in the 2nd quarter. Corton Capital Inc. now owns 21,712 shares of the company’s stock valued at $163,000 after buying an additional 4,870 shares during the period. 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.