Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock Has Average Price Target of $33.71

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have received an average rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $33.71.

A number of equities research analysts recently issued reports on CGEM shares. TD Cowen raised Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, September 13th. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Cullinan Therapeutics in a research report on Friday. Finally, Wedbush boosted their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th.

Insider Buying and Selling

In other Cullinan Therapeutics 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 transaction, the insider directly owned 158,844 shares in the company, valued at approximately $3,426,265.08. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CGEM. Elmind Capital LP bought a new position in shares of Cullinan Therapeutics during the second quarter worth about $12,564,900. BlackRock Inc. acquired a new position in shares of Cullinan Therapeutics in the 2nd quarter worth approximately $95,289,000. Engineers Gate Manager LP grew its position in shares of Cullinan Therapeutics by 130.9% in the 2nd 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. Bank of New York Mellon Corp bought a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $3,114,000. Finally, Blue Owl Capital Holdings LP bought a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $28,039,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Stock Performance

Shares of CGEM stock opened at $15.51 on Friday. The stock has a market cap of $998.22 million, a PE ratio of -5.00 and a beta of -0.05. Cullinan Therapeutics has a 1 year low of $5.68 and a 1 year high of $23.19. The stock has a fifty day moving average price of $19.53 and a 200 day moving average price of $16.74.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). As a group, equities research analysts predict that Cullinan Therapeutics will post -3.08 earnings per share for the current year.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer and autoimmune diseases. The company uses a portfolio-based approach to advance targeted therapies and immune-modulating treatments intended to address significant unmet medical needs.

Cullinan’s pipeline includes zovoltamab brengitecan (CLN-978), an investigational CD19-directed T-cell engager being studied in B-cell malignancies and autoimmune conditions, and CLN-619, an investigational antibody designed to target MICA and MICB proteins and stimulate anti-tumor immune responses.