Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives Average Recommendation of “Moderate Buy” from Brokerages

by · The Cerbat Gem

Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) has received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $32.8571.

CGEM has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. BTIG Research upped their price target on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wedbush increased their price target on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Finally, Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday.

Check Out Our Latest Analysis on CGEM

Cullinan Therapeutics Stock Performance

CGEM opened at $20.59 on Monday. The stock’s fifty day simple moving average is $19.46 and its 200 day simple moving average is $16.43. Cullinan Therapeutics has a 1-year low of $5.68 and a 1-year high of $23.19. The stock has a market cap of $1.33 billion, a PE ratio of -6.64 and a beta of 0.02.

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). Equities analysts forecast that Cullinan Therapeutics will post -3.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $21.57, for a total value of $172,560.00. Following the completion of the sale, the insider directly owned 158,844 shares in the company, valued at $3,426,265.08. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 46,000 shares of company stock worth $922,920. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CGEM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cullinan Therapeutics by 1.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,051 shares of the company’s stock valued at $497,000 after purchasing an additional 888 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after buying an additional 1,036 shares in the last quarter. AlphaCentric Advisors LLC raised its holdings in shares of Cullinan Therapeutics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock worth $286,000 after buying an additional 1,094 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of Cullinan Therapeutics by 2.7% during the 4th quarter. Kennedy Capital Management LLC now owns 47,266 shares of the company’s stock worth $489,000 after buying an additional 1,255 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Cullinan Therapeutics by 51.5% during the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after buying an additional 1,318 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

About Cullinan Therapeutics

(Get Free Report)

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for cancer and other serious diseases. The company’s approach combines internally developed drug candidates with licensed or acquired programs and partnerships intended to address areas of significant unmet medical need.

Its pipeline has included zipalertinib, an oral tyrosine kinase inhibitor being developed for patients with non-small cell lung cancer whose tumors have EGFR exon 20 insertion mutations.

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