Cullinan Therapeutics (NASDAQ:CGEM) Shares Gap Down to $22.40

Cullinan Therapeutics, Inc. (NASDAQ:CGEMGet Free Report) gapped down before the market opened on Monday . The stock had previously closed at $22.40, but opened at $21.80. Cullinan Therapeutics shares last traded at $22.44, with a volume of 55,287 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CGEM. HC Wainwright reaffirmed a “buy” rating and set a $28.00 target price on shares of Cullinan Therapeutics in a research report on Monday, June 3rd. Stifel Nicolaus began coverage on Cullinan Therapeutics in a research report on Wednesday, May 1st. They set a “buy” rating and a $40.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Cullinan Therapeutics in a research report on Monday, June 3rd. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Cullinan Therapeutics in a research report on Thursday, May 16th. Finally, Jonestrading increased their target price on Cullinan Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.00.

Read Our Latest Research Report on CGEM

Cullinan Therapeutics Trading Up 1.4 %

The firm has a fifty day moving average price of $22.03 and a 200 day moving average price of $16.46.

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

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 58,000 shares of Cullinan Therapeutics stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $28.07, for a total transaction of $1,628,060.00. Following the completion of the transaction, the insider now owns 129,582 shares in the company, valued at approximately $3,637,366.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cullinan Therapeutics

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its position in shares of Cullinan Therapeutics by 13.5% during the 4th quarter. Franklin Resources Inc. now owns 3,281,280 shares of the company’s stock valued at $33,436,000 after acquiring an additional 390,505 shares during the period. Affinity Asset Advisors LLC acquired a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at about $3,057,000. Parkman Healthcare Partners LLC grew its position in shares of Cullinan Therapeutics by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 529,877 shares of the company’s stock valued at $5,399,000 after acquiring an additional 91,132 shares during the period. Trexquant Investment LP acquired a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at about $356,000. Finally, Barclays PLC grew its position in shares of Cullinan Therapeutics by 145.6% during the 3rd quarter. Barclays PLC now owns 53,393 shares of the company’s stock valued at $483,000 after acquiring an additional 31,650 shares during the period. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics Company Profile

(Get Free Report)

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.

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