Cullinan Therapeutics (NASDAQ:CGEM) Price Target Raised to $41.00

Cullinan Therapeutics (NASDAQ:CGEM) had its target price upped by BTIG Research from $40.00 to $41.00 in a research report report published on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on the company. Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Wedbush upped their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. TD Cowen raised shares of Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright reiterated a “buy” rating and set a $35.00 price objective on shares of Cullinan Therapeutics in a report on Friday, October 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cullinan Therapeutics has an average rating of “Moderate Buy” and an average target price of $33.86.

Cullinan Therapeutics Stock Down 2.7%

Shares of Cullinan Therapeutics stock opened at $15.03 on Wednesday. Cullinan Therapeutics has a fifty-two week low of $6.73 and a fifty-two week high of $23.19. The firm has a market cap of $967.26 million, a PE ratio of -4.85 and a beta of -0.05. The business’s fifty day moving average is $17.91 and its two-hundred day moving average is $15.77.

Cullinan Therapeutics (NASDAQ:CGEM) last announced 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 research analysts anticipate that Cullinan Therapeutics will post -3.06 EPS for the current year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider owned 162,844 shares in the company, valued at approximately $3,299,219.44. This trade represents a 15.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Cullinan Therapeutics during the third quarter valued at approximately $50,000. China Universal Asset Management Co. Ltd. grew its stake in Cullinan Therapeutics by 20.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the company’s stock worth $179,000 after buying an additional 1,961 shares during the period. Ellsworth Advisors LLC acquired a new stake in shares of Cullinan Therapeutics in the third quarter worth $1,149,000. GAMMA Investing LLC increased its position in shares of Cullinan Therapeutics by 38.3% in the third quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in shares of Cullinan Therapeutics by 130.9% in the second quarter. Engineers Gate Manager LP now owns 153,050 shares of the company’s stock worth $2,787,000 after acquiring an additional 86,762 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer. The company builds a portfolio of targeted therapies and immune-modulating treatments designed to address significant unmet needs across hematologic malignancies and solid tumors.

Its development programs include investigational antibody-based therapies and other biologic approaches intended to selectively target cancer cells or activate the immune system. Among its programs are CLN-619, an antibody directed at the MICA and MICB proteins, CLN-418, an immune-activating bispecific molecule, and CLN-049, an investigational treatment designed to engage FLT3 and FLT3 ligand in certain blood cancers.