Cullinan Therapeutics (NASDAQ:CGEM) Upgraded at Zacks Research

Zacks Research upgraded shares of Cullinan Therapeutics (NASDAQ:CGEM) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on CGEM. Morgan Stanley restated an “overweight” rating and issued a $30.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, January 8th. BTIG Research increased 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. HC Wainwright raised their target price on Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wall Street Zen upgraded Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, Wedbush increased their price target on shares of Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

Cullinan Therapeutics Price Performance

CGEM stock opened at $12.50 on Wednesday. The business has a fifty day moving average price of $10.71 and a 200 day moving average price of $8.55. Cullinan Therapeutics has a fifty-two week low of $5.68 and a fifty-two week high of $13.33. The stock has a market capitalization of $738.50 million, a price-to-earnings ratio of -3.78 and a beta of -0.09.

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

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, major shareholder Lynx1 Capital Management Lp purchased 165,667 shares of the stock in a transaction on Tuesday, October 28th. The shares were purchased at an average cost of $8.40 per share, for a total transaction of $1,391,602.80. Following the purchase, the insider owned 8,963,500 shares of the company’s stock, valued at approximately $75,293,400. This represents a 1.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Michaelson sold 4,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was 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. Over the last ninety days, insiders sold 33,420 shares of company stock worth $356,082. 7.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Cullinan Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC raised its holdings in Cullinan Therapeutics by 689.7% during the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $43,000 after acquiring an additional 3,607 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after purchasing an additional 2,523 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Cullinan Therapeutics during the 3rd quarter worth approximately $62,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Cullinan Therapeutics during the 2nd quarter worth approximately $84,000. Finally, Inscription Capital LLC bought a new position in shares of Cullinan Therapeutics in the third quarter valued at $67,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

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.