Investment analysts at Wall Street Zen have shifted Cullinan Therapeutics (NASDAQ:CGEM) from a “sell” to a “hold” rating,report out Sunday says. This marks a change in how the biopharmaceutical firm is viewed. They focus on oncology therapies.
Other analysts also have opinions. Weiss Ratings kept a “sell (d-)” rating as of April 10 . Citigroup began coverage with a “buy” and $33.00 target on February 17. Wedbush repeated “outperform” and $37.00 target on Thursday. And BTIG Research gave buy with a $38.00 target on May 19 . Meanwhile,HC Wainwright reiterated a buy with a $30.00 target on June 8. Six analysts call it a buy, one a hold,one sell. Consensus? “Moderate Buy” with $32.00 average target.
Friday,CGEM opened at $13.70. Its 50-day moving average is $14.47, 200-day is $13.01 . A 12-month range of $5.68 to $16.74. Market cap sits at $842 million,P/E ratio at -4.08, beta at -0.01.
Company reported earnings May 7. EPS of ($0.75),beating the expected ($0.84) by $0.09. Analysts forecast EPS of -3.06 for current year .
Insider trading: Jennifer Michaelson sold 8,000 shares May 5, average price $14.62,totaling $116,960 . She now holds 166,844 shares,worth about $2.44 million. That's a 4.58% dip in her stake. Sale disclosed in SEC filing. Corporate insiders own 8.60% of stock.
Institutional investors also adjusting stakes in Cullinan. Blue Owl Capital Holdings LP increased stake by 5.2% in Q3,now holding 2,510,972 shares valued at $14.89 million after acquiring 125,000 more. AXQ Capital LP took new position worth ~$194,000 same period. UBS Group AG raised holdings by 44.4% in Q4, now with 271,736 shares worth $2.81 million after adding 83,551 shares. Tema Etfs LLC acquired new stake ~$383,000. ProShare Advisors LLC upped holdings by 15.3%,now owning 12,489 shares worth $129,000. Institutional investors,hedge funds hold 86.31% of stock .
Cullinan Therapeutics,US-based,develops cancer therapies. Lead program CLN-619,monoclonal antibody,in Phase I trials for solid tumors. Portfolio also includes CLN-049,bispecific antibody for acute myeloid leukemia,CLN-418,immune activator for multiple solid tumors,and Zipalertinib,small-molecule treatment for non-small cell lung cancer.
