Cullinan Therapeutics (NASDAQ:CGEM) Stock Rating Reaffirmed as Buy by HC Wainwright

Cullinan Therapeutics (NASDAQ:CGEM)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $35.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 137.11% from the company’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 brokerages also recently weighed in on CGEM. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. Wall Street Zen downgraded Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, September 13th. BTIG Research restated a “buy” rating and set a $40.00 price objective on shares of Cullinan Therapeutics in a report on Friday, September 25th. Finally, Wedbush boosted their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.71.

Cullinan Therapeutics Stock Up 1.6%

Shares of NASDAQ:CGEM opened at $14.76 on Friday. The firm has a market cap of $950.02 million, a P/E ratio of -4.81 and a beta of -0.04. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $23.19. The business 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 announced its earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.01). As a group, equities research analysts expect that Cullinan Therapeutics will post -3.08 EPS for the current year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $21.57, for a total transaction of $172,560.00. Following the completion of the sale, the insider directly owned 158,844 shares of the company’s stock, valued at approximately $3,426,265.08. The trade was a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 46,000 shares of company stock worth $922,920. Insiders own 8.60% of the company’s stock.

Institutional Trading of Cullinan Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elmind Capital LP bought a new stake in Cullinan Therapeutics during the 2nd quarter valued at $12,564,900. BlackRock Inc. bought a new position in Cullinan Therapeutics in the second quarter valued at $95,289,000. Engineers Gate Manager LP increased its stake in Cullinan Therapeutics by 130.9% in the second quarter. Engineers Gate Manager LP now owns 153,050 shares of the company’s stock valued at $2,787,000 after acquiring an additional 86,762 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Cullinan Therapeutics in the second quarter valued at $3,114,000. Finally, Blue Owl Capital Holdings LP bought a new position in Cullinan Therapeutics in the second quarter valued at $28,039,000. 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.