Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $29.3333.

Several brokerages recently issued reports on CGEM. Citigroup began coverage on shares of Cullinan Therapeutics in a report on Tuesday. They set a “buy” rating and a $33.00 price target for the company. New Street Research set a $26.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. Wall Street Zen downgraded Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. Wedbush increased their price target on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th.

Insider Activity at Cullinan Therapeutics

In other news, insider Jacquelyn L. Sumer sold 3,480 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $9.67, for a total transaction of $33,651.60. Following the transaction, the insider directly owned 135,432 shares in the company, valued at approximately $1,309,627.44. This represents a 2.51% 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 link. Also, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $12.30, for a total transaction of $49,200.00. Following the sale, the insider directly owned 128,635 shares in the company, valued at $1,582,210.50. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,836 shares of company stock worth $361,087 in the last quarter. Insiders own 7.16% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Lynx1 Capital Management LP raised its holdings in Cullinan Therapeutics by 31.0% during the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock worth $34,193,000 after purchasing an additional 1,365,248 shares during the last quarter. Blue Owl Capital Holdings LP boosted its stake in shares of Cullinan Therapeutics by 5.2% in the 3rd quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company’s stock valued at $14,890,000 after purchasing an additional 125,000 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Cullinan Therapeutics by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock worth $16,778,000 after buying an additional 8,399 shares during the period. State Street Corp lifted its holdings in Cullinan Therapeutics by 31.0% in the fourth quarter. State Street Corp now owns 2,197,338 shares of the company’s stock valued at $22,742,000 after buying an additional 520,024 shares during the period. Finally, Affinity Asset Advisors LLC lifted its stake in shares of Cullinan Therapeutics by 632.4% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock valued at $19,997,000 after purchasing an additional 1,668,289 shares during the period. Institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM opened at $12.44 on Thursday. The business’s fifty day moving average price is $11.20 and its two-hundred day moving average price is $9.08. Cullinan Therapeutics has a fifty-two week low of $5.68 and a fifty-two week high of $13.43. The stock has a market capitalization of $734.96 million, a price-to-earnings ratio of -3.76 and a beta of -0.09.

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.