Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $26.00 Consensus PT from Analysts

Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $26.00.

A number of brokerages recently issued reports on CGEM. Stifel Nicolaus began coverage on shares of Cullinan Therapeutics in a report on Wednesday, June 11th. They set a “buy” rating and a $22.00 price target on the stock. BTIG Research reissued a “buy” rating and set a $32.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 10th. Morgan Stanley lowered their price target on shares of Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, August 18th. Zacks Research raised shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, HC Wainwright reissued a “buy” rating and set a $24.00 price target on shares of Cullinan Therapeutics in a report on Friday, September 12th.

Cullinan Therapeutics Price Performance

CGEM stock opened at $5.96 on Monday. The firm’s fifty day simple moving average is $7.29 and its 200-day simple moving average is $7.77. The company has a market capitalization of $352.06 million, a P/E ratio of -1.85 and a beta of -0.08. Cullinan Therapeutics has a 12 month low of $5.89 and a 12 month high of $17.98.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.24). As a group, sell-side analysts forecast that Cullinan Therapeutics will post -3.04 earnings per share for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in shares of Cullinan Therapeutics by 44.6% in 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 last quarter. Rhumbline Advisers raised its position in shares of Cullinan Therapeutics by 3.9% in the second quarter. Rhumbline Advisers now owns 74,105 shares of the company’s stock valued at $558,000 after buying an additional 2,767 shares during the last quarter. Tema Etfs LLC raised its position in shares of Cullinan Therapeutics by 9.0% in the second quarter. Tema Etfs LLC now owns 42,692 shares of the company’s stock valued at $321,000 after buying an additional 3,528 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Cullinan Therapeutics by 22.3% in the fourth quarter. Two Sigma Advisers LP now owns 21,900 shares of the company’s stock valued at $267,000 after buying an additional 4,000 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Cullinan Therapeutics by 31.2% in the fourth quarter. ProShare Advisors LLC now owns 17,326 shares of the company’s stock valued at $211,000 after buying an additional 4,124 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.