Analysts Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Target Price at $32.86

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $32.8571.

CGEM has been the subject of a number of research analyst reports. Wedbush boosted their price target on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a research report on Monday, August 17th. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. BTIG Research increased their target price on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ CGEM opened at $21.31 on Monday. The stock has a market capitalization of $1.37 billion, a P/E ratio of -6.87 and a beta of 0.02. Cullinan Therapeutics has a 52 week low of $5.68 and a 52 week high of $23.19. The stock’s fifty day moving average is $19.33 and its 200 day moving average is $16.33.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.01). Equities research analysts forecast that Cullinan Therapeutics will post -3.08 earnings per share for the current year.

Insider Activity at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total transaction of $607,800.00. Following the sale, the insider owned 162,844 shares of the company’s stock, valued at $3,299,219.44. This trade represents a 15.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Cullinan Therapeutics during the second quarter worth $95,289,000. Affinity Asset Advisors LLC increased its holdings in Cullinan Therapeutics by 632.4% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock valued at $19,997,000 after purchasing an additional 1,668,289 shares during the period. Blue Owl Capital Holdings LP acquired a new stake in Cullinan Therapeutics in the second quarter valued at $28,039,000. Lynx1 Capital Management LP raised its position in Cullinan Therapeutics by 31.0% during the 3rd 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 during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in Cullinan Therapeutics during the 4th quarter worth $12,803,000. 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.