Cullinan Therapeutics (NASDAQ:CGEM) Upgraded by Wall Street Zen to Hold Rating

Cullinan Therapeutics (NASDAQ:CGEM) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also recently weighed in on CGEM. 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 report on Tuesday, December 9th. Zacks Research raised shares of Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Morgan Stanley reiterated an “overweight” rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a report on Thursday, January 8th. New Street Research set a $26.00 price target on shares of Cullinan Therapeutics in a report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

Cullinan Therapeutics Trading Up 0.3%

Shares of NASDAQ CGEM opened at $11.96 on Friday. The stock has a market cap of $706.55 million, a PE ratio of -3.61 and a beta of -0.09. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $13.33. The company has a 50-day moving average of $11.03 and a 200 day moving average of $8.70.

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

Insider Activity at Cullinan Therapeutics

In related news, insider Jeffrey Alan Jones sold 4,632 shares of Cullinan Therapeutics stock in a transaction that occurred on 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 sale, the insider owned 169,532 shares in the company, valued at approximately $1,639,374.44. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacquelyn L. Sumer sold 3,480 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $9.67, for a total value of $33,651.60. Following the transaction, the insider owned 135,432 shares in the company, valued at $1,309,627.44. This trade represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 33,420 shares of company stock worth $356,082. Company insiders own 7.16% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CGEM. CWM LLC increased its stake in Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after purchasing an additional 1,318 shares during the period. Signaturefd LLC grew its holdings in shares of Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after purchasing an additional 3,607 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after buying an additional 2,523 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cullinan Therapeutics by 29.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,909 shares of the company’s stock worth $103,000 after buying an additional 2,268 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Cullinan Therapeutics in the 3rd quarter valued at approximately $62,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

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.