Cullinan Therapeutics (NASDAQ:CGEM) Stock Keeps “Buy” Rating at BTIG Research

Cullinan Therapeutics (NASDAQ:CGEM)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a report issued on Monday, Benzinga reports. They presently have a $40.00 target price on the stock. BTIG Research’s target price would suggest a potential upside of 186.12% from the company’s previous close.

A number of other analysts have also recently issued reports on CGEM. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Cullinan Therapeutics in a research note on Friday, October 2nd. Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. Wedbush raised their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Finally, TD Cowen upgraded shares of Cullinan Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.71.

Cullinan Therapeutics Stock Up 8.1%

Shares of CGEM stock traded up $1.05 during trading on Monday, reaching $13.98. 862,415 shares of the company’s stock were exchanged, compared to its average volume of 908,540. The stock has a market capitalization of $899.75 million, a PE ratio of -4.51 and a beta of -0.05. Cullinan Therapeutics has a twelve month low of $6.73 and a twelve month high of $23.19. The firm’s fifty day moving average price is $19.04 and its 200-day moving average price is $16.85.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). As a group, analysts anticipate that Cullinan Therapeutics will post -3.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total value of $172,560.00. Following the completion of the sale, the insider owned 158,844 shares in the company, valued at $3,426,265.08. The trade was a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is owned by company insiders.

Institutional Trading of Cullinan Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CGEM. BlackRock Inc. acquired a new position in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $95,289,000. Blue Owl Capital Holdings LP acquired a new position in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $28,039,000. Dimensional Fund Advisors LP raised its position in shares of Cullinan Therapeutics by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company’s stock valued at $12,870,000 after buying an additional 57,259 shares in the last quarter. Boone Capital Management LLC acquired a new position in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $12,828,000. Finally, Elmind Capital LP acquired a new position in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $12,564,900. Institutional investors and hedge funds own 86.31% of the company’s stock.

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.