Cullinan Therapeutics (NASDAQ:CGEM) Receives New Coverage from Analysts at UBS Group

Equities researchers at UBS Group initiated coverage on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a research note issued 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 suggests a potential upside of 92.18% from the company’s current price.

A number of other research analysts also recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Therapeutics presently has an average rating of “Buy” and a consensus price target of $31.67.

Cullinan Therapeutics Stock Down 2.1 %

Shares of CGEM opened at $15.61 on Thursday. The firm has a market cap of $899.67 million, a price-to-earnings ratio of -4.99 and a beta of -0.13. The company’s fifty day moving average is $17.34 and its 200-day moving average is $19.23. Cullinan Therapeutics has a 12 month low of $7.64 and a 12 month 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). As a group, research analysts predict that Cullinan Therapeutics will post -3.2 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $18.09, for a total transaction of $144,720.00. Following the transaction, the insider now owns 115,942 shares of the company’s stock, valued at approximately $2,097,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cullinan Therapeutics by 22.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock valued at $294,000 after acquiring an additional 3,134 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of 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 purchasing an additional 615 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Cullinan Therapeutics by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock valued at $390,000 after purchasing an additional 820 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Cullinan Therapeutics by 39.4% in the second quarter. Harbor Capital Advisors Inc. now owns 17,481 shares of the company’s stock worth $305,000 after purchasing an additional 4,941 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Cullinan Therapeutics by 757.2% during the second quarter. SG Americas Securities LLC now owns 85,172 shares of the company’s stock worth $1,485,000 after buying an additional 75,236 shares in the last quarter. 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.