Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) has been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $32.86.
CGEM has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a report on Friday, February 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 price target (down previously from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th.
Read Our Latest Report on Cullinan Therapeutics
Cullinan Therapeutics Trading Down 1.5 %
Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. As a group, equities research analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current year.
Insiders Place Their Bets
In related news, insider Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $12.51, for a total value of $50,040.00. Following the completion of the transaction, the insider now owns 95,760 shares in the company, valued at approximately $1,197,957.60. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Alan Jones sold 4,895 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the sale, the insider now owns 174,164 shares in the company, valued at approximately $1,485,618.92. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,517 shares of company stock worth $351,922 over the last ninety days. Corporate insiders own 6.07% of the company’s stock.
Hedge Funds Weigh In On Cullinan Therapeutics
Several institutional investors have recently modified their holdings of CGEM. Amalgamated Bank raised its holdings in Cullinan Therapeutics by 97.3% in the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after acquiring an additional 872 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Cullinan Therapeutics by 10.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock valued at $150,000 after purchasing an additional 1,195 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Cullinan Therapeutics by 2.4% in the 4th quarter. Invesco Ltd. now owns 59,553 shares of the company’s stock valued at $725,000 after purchasing an additional 1,395 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Cullinan Therapeutics by 67.0% during the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock worth $46,000 after purchasing an additional 1,525 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its stake in shares of Cullinan Therapeutics by 37.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock worth $71,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.
About Cullinan Therapeutics
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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