Cullinan Therapeutics (NASDAQ:CGEM) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Cullinan Therapeutics (NASDAQ:CGEM) from a hold rating to a sell rating in a research report report published on Friday morning.

Several other analysts have also weighed in on the company. HC Wainwright increased their price target on Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Wedbush lifted their price objective on shares of Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Zacks Research raised shares of Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. New Street Research set a $26.00 target price on shares of Cullinan Therapeutics in a report on Thursday, November 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

Cullinan Therapeutics Trading Down 0.6%

Shares of NASDAQ CGEM opened at $12.50 on Friday. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $13.33. The firm’s 50-day moving average price is $10.71 and its 200-day moving average price is $8.56. The stock has a market capitalization of $738.50 million, a price-to-earnings ratio of -3.78 and a beta of -0.09.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.18. On average, equities analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Lynx1 Capital Management Lp acquired 165,667 shares of Cullinan Therapeutics stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $8.40 per share, for a total transaction of $1,391,602.80. Following the acquisition, the insider directly owned 8,963,500 shares of the company’s stock, valued at $75,293,400. This trade represents a 1.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Michaelson sold 4,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $12.30, for a total value of $49,200.00. Following the completion of the sale, the insider owned 128,635 shares of the company’s stock, valued at $1,582,210.50. This represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,420 shares of company stock valued at $356,082 over the last 90 days. 6.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGEM. Signaturefd LLC raised its holdings in shares of Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after purchasing an additional 3,607 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Cullinan Therapeutics during the third quarter valued at approximately $62,000. Tower Research Capital LLC TRC increased its holdings in Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after buying an additional 2,523 shares during the period. Inscription Capital LLC bought a new position in Cullinan Therapeutics in the third quarter worth approximately $67,000. Finally, Compass Ion Advisors LLC bought a new position in Cullinan Therapeutics in the third quarter worth approximately $82,000. 86.31% of the stock is currently owned by institutional investors.

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.