Cullinan Therapeutics (NASDAQ:CGEM) Research Coverage Started at UBS Group

Stock analysts at UBS Group initiated coverage on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a report released on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. UBS Group’s price objective would indicate a potential upside of 92.18% from the company’s current price.

Several other brokerages have also recently weighed in on CGEM. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Wedbush restated an “outperform” rating and set a $36.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.67.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $15.61 on Thursday. The business has a 50 day simple moving average of $17.34 and a 200 day simple moving average of $19.23. The company has a market capitalization of $899.67 million, a PE ratio of -4.99 and a beta of -0.13. Cullinan Therapeutics has a one year low of $7.64 and a one year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). Equities analysts anticipate that Cullinan Therapeutics will post -3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $18.09, for a total value of $144,720.00. Following the completion of the sale, the insider now directly owns 115,942 shares of the company’s stock, valued at approximately $2,097,390.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.07% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its stake in Cullinan Therapeutics by 31.0% in the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock valued at $44,000 after acquiring an additional 615 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cullinan Therapeutics by 73.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after purchasing an additional 3,758 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of Cullinan Therapeutics during the second quarter worth $182,000. Squarepoint Ops LLC bought a new stake in Cullinan Therapeutics in the second quarter valued at about $186,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Cullinan Therapeutics by 40.7% in the second quarter. The Manufacturers Life Insurance Company now owns 15,175 shares of the company’s stock valued at $265,000 after buying an additional 4,393 shares during the period. Institutional investors and hedge funds 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.