Analysts Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Target Price at $26.00

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $26.00.

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Cullinan Therapeutics in a research note on Wednesday, October 8th. Zacks Research raised Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. BTIG Research restated a “buy” rating and set a $32.00 price target on shares of Cullinan Therapeutics in a research note on Wednesday, September 10th. Morgan Stanley lowered their price objective on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, August 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $24.00 target price on shares of Cullinan Therapeutics in a report on Friday, September 12th.

Cullinan Therapeutics Price Performance

Shares of CGEM opened at $8.77 on Tuesday. The firm has a market capitalization of $518.13 million, a price-to-earnings ratio of -2.65 and a beta of -0.08. Cullinan Therapeutics has a 1-year low of $5.68 and a 1-year high of $14.15. The company has a 50-day moving average of $7.16 and a 200 day moving average of $7.64.

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

Insider Buying and Selling at Cullinan Therapeutics

In other Cullinan Therapeutics news, major shareholder Lynx1 Capital Management Lp acquired 165,667 shares of the company’s stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average cost of $8.40 per share, for a total transaction of $1,391,602.80. Following the completion of the purchase, the insider owned 8,963,500 shares in the company, valued at approximately $75,293,400. This trade represents a 1.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have purchased 1,874,057 shares of company stock valued at $13,325,286. 6.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Cullinan Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in Cullinan Therapeutics during the 1st quarter valued at $34,000. SG Americas Securities LLC bought a new position in shares of Cullinan Therapeutics in the 3rd quarter worth $62,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 purchasing an additional 2,523 shares during the last quarter. Inscription Capital LLC bought a new stake in Cullinan Therapeutics during the third quarter valued at about $67,000. Finally, Compass Ion Advisors LLC bought a new position in Cullinan Therapeutics in the third quarter worth about $82,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.