Cullinan Therapeutics (NASDAQ:CGEM) Trading 9.3% Higher – Should You Buy?

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) shares shot up 9.3% during trading on Monday . The stock traded as high as $11.94 and last traded at $11.5710. 433,931 shares were traded during trading, a decline of 30% from the average session volume of 622,105 shares. The stock had previously closed at $10.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $25.00 target price on shares of Cullinan Therapeutics in a research report on Thursday, November 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Monday, December 1st. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Morgan Stanley dropped their target price 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. Finally, BTIG Research boosted their price target on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a report on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Cullinan Therapeutics Stock Performance

The stock has a market cap of $714.63 million, a PE ratio of -3.66 and a beta of -0.11. The firm has a fifty day moving average price of $8.35 and a 200 day moving average price of $7.91.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.18. On average, equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Insider Transactions at Cullinan Therapeutics

In other news, major shareholder Lynx1 Capital Management Lp bought 165,667 shares of the stock in a transaction dated Tuesday, October 28th. The shares were acquired at an average cost of $8.40 per share, with a total value of $1,391,602.80. Following the purchase, the insider directly owned 8,963,500 shares in the company, valued at $75,293,400. The trade was a 1.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $12.30, for a total value of $49,200.00. Following the transaction, the insider owned 138,004 shares in the company, valued at $1,697,449.20. This represents a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders bought 1,874,057 shares of company stock worth $13,325,286 in the last 90 days. Company insiders own 6.07% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CGEM. Brooklyn Investment Group acquired a new stake in Cullinan Therapeutics during the 1st quarter worth $34,000. 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. SG Americas Securities LLC purchased a new position in shares of Cullinan Therapeutics in the third quarter worth about $62,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Cullinan Therapeutics in the second quarter worth about $84,000. Finally, Inscription Capital LLC acquired a new position in Cullinan Therapeutics during the third quarter worth about $67,000. 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.