Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Given Average Rating of “Buy” by Brokerages

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been assigned a consensus recommendation of “Buy” from the five research firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $30.00.

A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, April 16th. Morgan Stanley restated an “overweight” rating and set a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research note on Friday, March 7th. UBS Group cut their price objective on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Finally, Stifel Nicolaus started coverage on shares of Cullinan Therapeutics in a research report on Wednesday. They issued a “buy” rating and a $22.00 price target on the stock.

Institutional Trading of Cullinan Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Deerfield Management Company L.P. Series C grew its position in Cullinan Therapeutics by 3.0% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 3,379,399 shares of the company’s stock valued at $41,161,000 after acquiring an additional 99,399 shares during the period. Vanguard Group Inc. grew its position in Cullinan Therapeutics by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,039,731 shares of the company’s stock valued at $23,011,000 after acquiring an additional 103,504 shares during the period. Blue Owl Capital Holdings LP grew its position in Cullinan Therapeutics by 17.9% in the fourth quarter. Blue Owl Capital Holdings LP now owns 2,370,972 shares of the company’s stock valued at $28,878,000 after acquiring an additional 360,000 shares during the period. Franklin Resources Inc. grew its position in Cullinan Therapeutics by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 2,199,709 shares of the company’s stock valued at $26,792,000 after acquiring an additional 8,447 shares during the period. Finally, Alliancebernstein L.P. grew its position in Cullinan Therapeutics by 8.5% in the fourth quarter. Alliancebernstein L.P. now owns 2,011,525 shares of the company’s stock valued at $24,500,000 after acquiring an additional 157,115 shares during the period. 86.31% of the stock is currently owned by institutional investors.

Cullinan Therapeutics Trading Down 3.8%

CGEM stock opened at $8.61 on Friday. Cullinan Therapeutics has a twelve month low of $6.85 and a twelve month high of $21.82. The company has a market capitalization of $508.12 million, a P/E ratio of -3.03 and a beta of -0.04. The firm has a 50 day simple moving average of $8.10 and a 200-day simple moving average of $9.49.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. On average, research analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current year.

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.