Cullinan Therapeutics (NASDAQ:CGEM) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Cullinan Therapeutics (NASDAQ:CGEM) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Cullinan Therapeutics in a research note on Monday, August 17th. 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 report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. BTIG Research increased their price objective on Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cullinan Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $32.86.

Cullinan Therapeutics Price Performance

NASDAQ CGEM opened at $21.82 on Monday. Cullinan Therapeutics has a 1 year low of $5.68 and a 1 year high of $22.54. The stock has a market capitalization of $1.40 billion, a PE ratio of -7.04 and a beta of 0.01. The business’s 50-day moving average is $18.05 and its 200 day moving average is $15.48.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). As a group, equities research analysts anticipate that Cullinan Therapeutics will post -3.07 earnings per share for the current year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total transaction of $607,800.00. Following the completion of the sale, the insider directly owned 162,844 shares in the company, valued at approximately $3,299,219.44. The trade was a 15.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock worth $28,000 after purchasing an additional 1,036 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at $53,000. Quantbot Technologies LP purchased a new stake in shares of Cullinan Therapeutics in the 2nd quarter worth $53,000. Seven Fleet Capital Management LP purchased a new stake in shares of Cullinan Therapeutics in the 4th quarter worth $31,000. Finally, CWM LLC raised its holdings in Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after purchasing an additional 1,318 shares during the period. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.