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

by · The Cerbat Gem

Wall Street Zen upgraded shares of Cullinan Therapeutics (NASDAQ:CGEM – Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other analysts also recently commented on CGEM. HC Wainwright lifted their target price on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wedbush increased their price objective on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Morgan Stanley reissued an “overweight” rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a research report on Thursday, January 8th. Zacks Research upgraded shares of Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, New Street Research set a $26.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, November 20th. 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 stock. According to MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

Get Our Latest Stock Analysis on CGEM

Cullinan Therapeutics Trading Up 0.3%

CGEM stock opened at $11.96 on Friday. Cullinan Therapeutics has a 1-year low of $5.68 and a 1-year high of $13.33. The business’s 50 day simple moving average is $11.03 and its 200 day simple moving average is $8.70. The firm has a market capitalization of $706.60 million, a PE ratio of -3.61 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.18. As a group, sell-side analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeffrey Alan Jones sold 4,632 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $9.67, for a total transaction of $44,791.44. Following the completion of the sale, the insider owned 169,532 shares of the company’s stock, valued at approximately $1,639,374.44. This represents a 2.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction that occurred on 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 owned 128,635 shares in the company, valued at $1,582,210.50. This represents a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 33,420 shares of company stock worth $356,082. 7.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGEM. Lynx1 Capital Management LP increased its stake in shares of Cullinan Therapeutics by 31.0% in the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after purchasing an additional 1,365,248 shares during the last quarter. Blue Owl Capital Holdings LP grew its position in Cullinan Therapeutics by 5.2% in the third quarter. Blue Owl Capital Holdings LP now owns 2,510,972 shares of the company’s stock valued at $14,890,000 after acquiring an additional 125,000 shares during the last quarter. Franklin Resources Inc. grew its position in 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 acquiring an additional 8,399 shares during the last quarter. Geode Capital Management LLC raised its stake in Cullinan Therapeutics by 3.0% during the second quarter. Geode Capital Management LLC now owns 1,279,496 shares of the company’s stock worth $9,636,000 after acquiring an additional 37,679 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Cullinan Therapeutics by 26.1% in the second quarter. Bank of America Corp DE now owns 661,285 shares of the company’s stock worth $4,979,000 after acquiring an additional 136,900 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

About Cullinan Therapeutics

(Get Free Report)

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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