Cullinan Therapeutics (NASDAQ:CGEM) Rating Lowered to Sell at Wall Street Zen

Cullinan Therapeutics (NASDAQ:CGEM) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

CGEM has been the topic of several other research reports. Guggenheim began coverage on Cullinan Therapeutics in a research note on Monday, February 2nd. They issued a “buy” rating and a $30.00 price target on the stock. HC Wainwright upped their target price on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $30.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, January 8th. Wedbush boosted their price target on shares of Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Cullinan Therapeutics Price Performance

Shares of NASDAQ CGEM opened at $12.23 on Friday. The company has a market capitalization of $722.55 million, a P/E ratio of -3.69 and a beta of -0.09. The company has a 50 day simple moving average of $11.09 and a 200-day simple moving average of $8.87. Cullinan Therapeutics has a 1 year low of $5.68 and a 1 year high of $13.43.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.18. As a group, research analysts expect that Cullinan Therapeutics will post -3.04 EPS for the current year.

Insider Buying and Selling

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 9,922 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $10.01, for a total transaction of $99,319.22. Following the sale, the chief executive officer owned 420,699 shares in the company, valued at $4,211,196.99. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Alan Jones sold 4,632 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 value of $44,791.44. Following the completion of the transaction, the insider owned 169,532 shares of the company’s stock, valued at $1,639,374.44. The trade was a 2.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 33,420 shares of company stock valued at $356,082. Company insiders own 7.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Cullinan Therapeutics in the 4th quarter valued at $104,000. ProShare Advisors LLC grew its stake in shares of Cullinan Therapeutics by 15.3% during the fourth quarter. ProShare Advisors LLC now owns 12,489 shares of the company’s stock worth $129,000 after purchasing an additional 1,661 shares in the last quarter. UBS Group AG increased its holdings in Cullinan Therapeutics by 44.4% in the fourth quarter. UBS Group AG now owns 271,736 shares of the company’s stock valued at $2,812,000 after buying an additional 83,551 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cullinan Therapeutics by 29.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,909 shares of the company’s stock valued at $103,000 after buying an additional 2,268 shares in the last quarter. Finally, CWM LLC raised its stake in Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock valued at $40,000 after buying an additional 1,318 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

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.