Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have earned an average recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $32.00.

A number of equities research analysts recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Jonestrading boosted their price target on shares of Cullinan Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BTIG Research boosted their price objective on shares of Cullinan Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Stifel Nicolaus initiated coverage on shares of Cullinan Therapeutics in a report on Wednesday, May 1st. They set a “buy” rating and a $40.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a report on Monday, June 3rd.

Insider Activity

In other news, insider Jennifer Michaelson sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $28.07, for a total value of $1,628,060.00. Following the completion of the transaction, the insider now owns 129,582 shares in the company, valued at $3,637,366.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Cullinan Therapeutics by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock worth $390,000 after purchasing an additional 820 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Cullinan Therapeutics by 31.0% during the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after purchasing an additional 615 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cullinan Therapeutics by 22.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock worth $294,000 after purchasing an additional 3,134 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Cullinan Therapeutics by 81.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,996 shares of the company’s stock worth $153,000 after purchasing an additional 4,042 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its holdings in Cullinan Therapeutics by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock worth $5,399,000 after purchasing an additional 91,132 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

Cullinan Therapeutics Price Performance

CGEM opened at $16.18 on Monday. The company has a market cap of $932.45 million, a price-to-earnings ratio of -5.17 and a beta of -0.12. The firm has a 50 day simple moving average of $22.27 and a 200 day simple moving average of $17.71. Cullinan Therapeutics has a fifty-two week low of $7.64 and a fifty-two week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. As a group, analysts expect that Cullinan Therapeutics will post -3.02 EPS for the current year.

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.