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

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

CGEM has been the topic of several other reports. HC Wainwright upped their target price on shares of Cullinan Therapeutics from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. Zacks Research raised Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, Morgan Stanley decreased their price target on Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, August 18th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Cullinan Therapeutics Trading Up 36.5%

Shares of CGEM opened at $12.93 on Friday. The company has a market capitalization of $763.90 million, a PE ratio of -3.91 and a beta of -0.08. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $13.78. The business’s 50 day moving average is $7.47 and its 200 day moving average is $7.69.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.18. Equities research analysts predict that Cullinan Therapeutics will post -3.04 earnings per share for the current year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, major shareholder Lynx1 Capital Management Lp purchased 165,667 shares of the business’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 acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 1,874,057 shares of company stock worth $13,325,286 in the last ninety days. 6.07% of the stock is currently owned by company insiders.

Institutional Trading of Cullinan Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lynx1 Capital Management LP grew its stake in Cullinan Therapeutics by 31.0% in the third quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock worth $34,193,000 after purchasing an additional 1,365,248 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cullinan Therapeutics by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 3,039,731 shares of the company’s stock worth $23,011,000 after buying an additional 103,504 shares during the period. Blue Owl Capital Holdings LP grew its position in shares of Cullinan Therapeutics by 5.2% during the 3rd 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. Franklin Resources Inc. increased its stake in shares of Cullinan Therapeutics by 0.4% during 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 period. Finally, Geode Capital Management LLC raised its holdings in shares of Cullinan Therapeutics by 3.0% in the second quarter. Geode Capital Management LLC now owns 1,279,496 shares of the company’s stock valued at $9,636,000 after acquiring an additional 37,679 shares in the last quarter. 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.