Brokerages Set Cullinan Therapeutics, Inc. (NASDAQ:CGEM) PT at $26.80

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have received an average rating of “Buy” from the five research firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $26.80.

CGEM has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Cullinan Therapeutics in a research note on Wednesday, June 11th. They issued a “buy” rating and a $22.00 price target for the company. UBS Group cut their price target on shares of Cullinan Therapeutics from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, May 12th. HC Wainwright initiated coverage on shares of Cullinan Therapeutics in a research note on Thursday, August 21st. They issued a “buy” rating and a $24.00 price target for the company. Finally, Morgan Stanley cut their price target on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, August 18th.

Cullinan Therapeutics Price Performance

Shares of CGEM stock opened at $7.54 on Thursday. The stock has a market cap of $445.39 million, a P/E ratio of -2.33 and a beta of -0.08. The company has a fifty day moving average price of $7.74 and a two-hundred day moving average price of $8.06. Cullinan Therapeutics has a one year low of $6.85 and a one year high of $19.89.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.24). As a group, equities research analysts anticipate that Cullinan Therapeutics will post -3.04 EPS for the current fiscal year.

Institutional Trading of Cullinan Therapeutics

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in shares of Cullinan Therapeutics during the 1st quarter worth about $34,000. GAMMA Investing LLC lifted its stake in shares of Cullinan Therapeutics by 1,214.8% during the 1st quarter. GAMMA Investing LLC now owns 6,995 shares of the company’s stock worth $53,000 after buying an additional 6,463 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after buying an additional 2,523 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Cullinan Therapeutics during the 4th quarter worth about $77,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter worth about $84,000. 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.