Cullinan Therapeutics (NASDAQ:CGEM) Stock Rating Upgraded by Wall Street Zen

Cullinan Therapeutics (NASDAQ:CGEM) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. BTIG Research restated a “buy” rating and set a $40.00 price target on shares of Cullinan Therapeutics in a report on Friday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Friday, October 2nd. HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. Finally, Wedbush lifted their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.71.

Cullinan Therapeutics Price Performance

Shares of NASDAQ CGEM opened at $15.53 on Friday. The business’s 50 day moving average is $19.39 and its two-hundred day moving average is $16.84. Cullinan Therapeutics has a 1-year low of $6.73 and a 1-year high of $23.19. The stock has a market capitalization of $999.51 million, a P/E ratio of -5.01 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share (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 -3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total value of $172,560.00. Following the completion of the sale, the insider owned 158,844 shares of the company’s stock, valued at $3,426,265.08. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Cullinan Therapeutics by 38.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the last quarter. AlphaCentric Advisors LLC boosted its holdings in Cullinan Therapeutics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock valued at $286,000 after acquiring an additional 1,094 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Cullinan Therapeutics during the 2nd quarter valued at $25,000. Allworth Financial LP boosted its holdings in Cullinan Therapeutics by 152.4% during the 2nd quarter. Allworth Financial LP now owns 2,893 shares of the company’s stock valued at $53,000 after acquiring an additional 1,747 shares during the period. Finally, Royal Bank of Canada grew its position in Cullinan Therapeutics by 160.6% in the 1st quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock valued at $58,000 after acquiring an additional 2,492 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer and autoimmune diseases. The company uses a portfolio-based approach to advance targeted therapies and immune-modulating treatments intended to address significant unmet medical needs.

Cullinan’s pipeline includes zovoltamab brengitecan (CLN-978), an investigational CD19-directed T-cell engager being studied in B-cell malignancies and autoimmune conditions, and CLN-619, an investigational antibody designed to target MICA and MICB proteins and stimulate anti-tumor immune responses.