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

Cullinan Therapeutics (NASDAQ:CGEM)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Friday, Benzinga reports. They currently have a $35.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 140.88% from the stock’s current price. 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.

A number of other equities research analysts have also recently weighed in on CGEM. BTIG Research restated a “buy” rating and issued a $40.00 price target on shares of Cullinan Therapeutics in a report on Friday, September 25th. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, September 13th. Wedbush lifted their target price on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.71.

Cullinan Therapeutics Trading Down 5.3%

Shares of NASDAQ CGEM opened at $14.53 on Friday. Cullinan Therapeutics has a twelve month low of $5.68 and a twelve month high of $23.19. The stock has a market capitalization of $935.15 million, a PE ratio of -4.69 and a beta of -0.04. The stock has a fifty day simple moving average of $19.56 and a 200-day simple moving average of $16.73.

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

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total transaction of $172,560.00. Following the sale, the insider directly owned 158,844 shares of the company’s stock, valued at approximately $3,426,265.08. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 46,000 shares of company stock worth $922,920 over the last quarter. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CGEM. Integrated Wealth Concepts LLC acquired a new position in shares of Cullinan Therapeutics during the 2nd quarter worth about $25,000. Allworth Financial LP acquired a new position in Cullinan Therapeutics in the 2nd quarter valued at approximately $53,000. Quantbot Technologies LP acquired a new stake in shares of Cullinan Therapeutics during the second quarter worth $53,000. Seven Fleet Capital Management LP acquired a new stake in Cullinan Therapeutics in the fourth quarter worth $31,000. Finally, Royal Bank of Canada grew its holdings in Cullinan Therapeutics by 160.6% in the first quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock worth $58,000 after purchasing an additional 2,492 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.