Cullinan Therapeutics (NASDAQ:CGEM) Shares Up 3.6%

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) rose 3.6% on Wednesday . The stock traded as high as $18.29 and last traded at $18.25. Approximately 14,290 shares changed hands during trading, a decline of 98% from the average daily volume of 700,304 shares. The stock had previously closed at $17.61.

Wall Street Analyst Weigh In

CGEM has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a report on Thursday, August 8th. Stifel Nicolaus started coverage on Cullinan Therapeutics in a report on Wednesday, May 1st. They set a “buy” rating and a $40.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a report on Monday, June 3rd. Finally, William Blair reissued an “outperform” rating on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Therapeutics currently has an average rating of “Buy” and an average target price of $32.00.

Cullinan Therapeutics Trading Up 0.7 %

The company’s 50-day moving average is $17.73 and its 200 day moving average is $19.23. The firm has a market cap of $1.02 billion, a PE ratio of -5.63 and a beta of -0.12.

Insider Transactions at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $16.33, for a total transaction of $130,640.00. Following the transaction, the insider now directly owns 123,942 shares of the company’s stock, valued at $2,023,972.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CGEM. Vontobel Holding Ltd. purchased a new stake in shares of Cullinan Therapeutics during the fourth quarter worth $102,000. Bailard Inc. acquired a new stake in Cullinan Therapeutics in the 4th quarter valued at approximately $110,000. Swiss National Bank grew its stake in shares of Cullinan Therapeutics by 19.9% in the fourth quarter. Swiss National Bank now owns 46,300 shares of the company’s stock worth $472,000 after acquiring an additional 7,700 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Cullinan Therapeutics during the 4th quarter worth about $356,000. Finally, Quest Partners LLC bought a new position in shares of Cullinan Therapeutics during the fourth quarter valued at $179,000. Institutional investors and hedge funds 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.