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

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $29.5556.

A number of research analysts have recently issued reports on CGEM shares. Guggenheim initiated coverage on Cullinan Therapeutics in a research report on Monday, February 2nd. They set a “buy” rating and a $30.00 target price on the stock. Wall Street Zen lowered shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th. Citigroup initiated coverage on shares of Cullinan Therapeutics in a report on Tuesday, February 17th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, Zacks Research lowered shares of Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th.

Cullinan Therapeutics Stock Down 3.3%

Shares of Cullinan Therapeutics stock opened at $13.49 on Monday. The firm has a market cap of $816.55 million, a PE ratio of -4.03 and a beta of -0.16. Cullinan Therapeutics has a twelve month low of $5.68 and a twelve month high of $16.74. The business has a 50-day moving average price of $12.70 and a 200 day moving average price of $9.96.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.03. On average, sell-side analysts expect that Cullinan Therapeutics will post -3.04 EPS for the current year.

Insider Activity at Cullinan Therapeutics

In related news, CEO Nadim Ahmed sold 16,381 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $13.62, for a total value of $223,109.22. Following the transaction, the chief executive officer directly owned 404,318 shares of the company’s stock, valued at approximately $5,506,811.16. This trade represents a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mary Kay Fenton sold 4,398 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $13.62, for a total value of $59,900.76. Following the sale, the chief financial officer owned 126,380 shares of the company’s stock, valued at approximately $1,721,295.60. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 104,769 shares of company stock valued at $1,381,808. 6.07% of the stock is owned by corporate insiders.

Institutional Trading of Cullinan Therapeutics

Several large investors have recently made changes to their positions in CGEM. Assenagon Asset Management S.A. lifted its holdings in Cullinan Therapeutics by 1,665.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,685 shares of the company’s stock valued at $1,054,000 after purchasing an additional 167,623 shares in the last quarter. Blue Owl Capital Holdings LP grew its holdings in shares of Cullinan Therapeutics by 5.2% during the third quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company’s stock worth $14,890,000 after buying an additional 125,000 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of Cullinan Therapeutics during the third quarter worth $194,000. Voss Capital LP raised its position in shares of Cullinan Therapeutics by 43.8% in the second quarter. Voss Capital LP now owns 251,717 shares of the company’s stock valued at $1,895,000 after buying an additional 76,717 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Cullinan Therapeutics by 0.4% in the second quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock valued at $16,778,000 after buying an additional 8,399 shares during the last quarter. 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.