Cullinan Therapeutics’ (CGEM) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cullinan Therapeutics (NASDAQ:CGEM) in a report published on Friday morning,Benzinga reports. HC Wainwright currently has a $35.00 target price on the stock. HC Wainwright also issued estimates for Cullinan Therapeutics’ Q1 2027 earnings at ($0.95) EPS, Q2 2027 earnings at ($0.96) EPS, Q3 2027 earnings at ($0.98) EPS, Q4 2027 earnings at ($1.00) EPS and FY2027 earnings at ($3.89) EPS.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. BTIG Research reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cullinan Therapeutics in a research note on Friday, September 25th. Wedbush upped their price objective on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, September 13th. Finally, TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.71.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $15.51 on Friday. Cullinan Therapeutics has a one year low of $5.68 and a one year high of $23.19. The stock’s 50-day moving average is $19.53 and its 200 day moving average is $16.74. The firm has a market cap of $998.22 million, a price-to-earnings ratio of -5.00 and a beta of -0.05.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). On average, sell-side analysts expect that Cullinan Therapeutics will post -3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider directly owned 162,844 shares of the company’s stock, valued at approximately $3,299,219.44. This trade represents a 15.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CGEM. Engineers Gate Manager LP raised its holdings in shares of Cullinan Therapeutics by 130.9% in the 2nd quarter. Engineers Gate Manager LP now owns 153,050 shares of the company’s stock worth $2,787,000 after acquiring an additional 86,762 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Cullinan Therapeutics during the 2nd quarter valued at about $25,000. Squarepoint Ops LLC bought a new stake in Cullinan Therapeutics during the 2nd quarter worth approximately $3,061,000. Allworth Financial LP increased its holdings in Cullinan Therapeutics by 152.4% during the 2nd quarter. Allworth Financial LP now owns 2,893 shares of the company’s stock worth $53,000 after purchasing an additional 1,747 shares in the last quarter. Finally, Arizona State Retirement System bought a new stake in Cullinan Therapeutics during the 2nd quarter worth approximately $190,000. 86.31% of the stock is owned by institutional investors.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for cancer and autoimmune diseases. The company uses a portfolio-based approach to advance targeted therapies and immune-modulating treatments intended to address significant unmet medical needs.

Cullinan’s pipeline includes zovoltamab brengitecan (CLN-978), an investigational CD19-directed T-cell engager being studied in B-cell malignancies and autoimmune conditions, and CLN-619, an investigational antibody designed to target MICA and MICB proteins and stimulate anti-tumor immune responses.