Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) have been given a consensus rating of "Buy" by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $31.67.
Several research analysts have weighed in on the company. Wedbush reiterated an "outperform" rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. UBS Group assumed coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $30.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, October 16th.
Read Our Latest Analysis on Cullinan Therapeutics
In related news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $18.09, for a total value of $144,720.00. Following the completion of the sale, the insider now directly owns 115,942 shares in the company, valued at approximately $2,097,390.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.07% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its position in Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company's stock valued at $30,000 after buying an additional 872 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Cullinan Therapeutics by 22.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company's stock valued at $358,000 after buying an additional 3,881 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Cullinan Therapeutics by 64.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company's stock valued at $187,000 after buying an additional 4,380 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Cullinan Therapeutics by 18.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 135,036 shares of the company's stock valued at $2,261,000 after buying an additional 20,841 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in Cullinan Therapeutics in the 2nd quarter valued at about $13,079,000. 86.31% of the stock is owned by hedge funds and other institutional investors.
Shares of CGEM opened at $15.78 on Friday. The stock has a fifty day moving average of $17.11 and a two-hundred day moving average of $19.16. The company has a market capitalization of $914.92 million, a PE ratio of -5.16 and a beta of -0.13. Cullinan Therapeutics has a fifty-two week low of $7.64 and a fifty-two week high of $30.19.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.02). As a group, equities research analysts forecast that Cullinan Therapeutics will post -3.2 earnings per share for the current fiscal year.
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.
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