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

by · The Markets Daily

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research firms have also commented on CGEM. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Wedbush reiterated an “outperform” rating and set a $37.00 price objective on shares of Cullinan Therapeutics in a research note on Thursday, June 11th. BTIG Research boosted their target price on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Cullinan Therapeutics in a research report on Monday, June 8th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cullinan Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Read Our Latest Stock Analysis on CGEM

Cullinan Therapeutics Price Performance

NASDAQ:CGEM opened at $16.50 on Friday. The business’s 50-day moving average is $16.38 and its two-hundred day moving average is $14.59. Cullinan Therapeutics has a 12 month low of $5.68 and a 12 month high of $19.43. The firm has a market capitalization of $1.01 billion, a PE ratio of -4.91 and a beta of 0.01.

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.09. Equities analysts anticipate that Cullinan Therapeutics will post -3.06 EPS for the current year.

Insider Activity

In related news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction on Monday, July 6th. The shares were sold at an average price of $17.82, for a total value of $142,560.00. Following the completion of the sale, the insider owned 162,844 shares in the company, valued at approximately $2,901,880.08. The trade was a 4.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cullinan Therapeutics in the 1st quarter worth about $163,000. Jane Street Group LLC raised its stake in shares of Cullinan Therapeutics by 145.9% in the 1st quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock valued at $260,000 after purchasing an additional 109,413 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Cullinan Therapeutics during the first quarter worth about $618,000. Creative Planning lifted its position in shares of Cullinan Therapeutics by 222.2% during the second quarter. Creative Planning now owns 41,723 shares of the company’s stock worth $314,000 after purchasing an additional 28,773 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Cullinan Therapeutics by 122.9% in the second quarter. JPMorgan Chase & Co. now owns 97,069 shares of the company’s stock worth $731,000 after purchasing an additional 53,522 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

About Cullinan Therapeutics

(Get Free Report)

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.

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