Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $32.00 Consensus PT from Analysts

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEMGet Free Report) have received a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $32.00.

Several research analysts have recently issued reports on CGEM shares. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a report on Thursday, May 16th. Jonestrading upped their target price on shares of Cullinan Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a research note on Monday, June 3rd. Stifel Nicolaus began coverage on shares of Cullinan Therapeutics in a research note on Wednesday, May 1st. They set a “buy” rating and a $40.00 price target for the company. Finally, BTIG Research increased their price target on shares of Cullinan Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th.

Read Our Latest Stock Analysis on CGEM

Cullinan Therapeutics Trading Up 2.5 %

Shares of NASDAQ:CGEM opened at $22.97 on Thursday. Cullinan Therapeutics has a 52 week low of $7.64 and a 52 week high of $30.19. The company’s 50 day moving average is $22.13 and its two-hundred day moving average is $16.56. The company has a market cap of $1.32 billion, a PE ratio of -7.34 and a beta of -0.06.

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, beating the consensus estimate of ($0.90) by $0.04. As a group, equities research analysts expect that Cullinan Therapeutics will post -3.02 EPS for the current year.

Insider Transactions at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 58,000 shares of the firm’s stock in a transaction 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 sale, 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 can be accessed through this hyperlink. Company insiders own 6.07% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Several hedge funds have recently made changes to their positions in CGEM. Ameritas Investment Partners Inc. lifted its stake in shares of Cullinan Therapeutics by 31.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after acquiring an additional 615 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Cullinan Therapeutics by 352.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,954 shares of the company’s stock valued at $50,000 after purchasing an additional 3,859 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Cullinan Therapeutics in the 4th quarter valued at about $102,000. Annandale Capital LLC increased its holdings in shares of Cullinan Therapeutics by 20.0% in the 3rd quarter. Annandale Capital LLC now owns 12,000 shares of the company’s stock valued at $109,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Bailard Inc. purchased a new position in shares of Cullinan Therapeutics in the 4th quarter valued at about $110,000. Institutional investors and hedge funds 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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Analyst Recommendations for Cullinan Therapeutics (NASDAQ:CGEM)

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