HC Wainwright Reaffirms “Buy” Rating for Cullinan Therapeutics (NASDAQ:CGEM)

Cullinan Therapeutics (NASDAQ:CGEM)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $35.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 140.88% from the stock’s previous close. 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 analysts have also commented on the stock. Wall Street Zen lowered shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, September 13th. Wedbush increased their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $40.00 target price on shares of Cullinan Therapeutics in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cullinan Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $33.71.

Cullinan Therapeutics Trading Down 5.3%

Shares of CGEM opened at $14.53 on Friday. The firm has a fifty day moving average price of $19.56 and a 200-day moving average price of $16.73. The firm has a market capitalization of $935.15 million, a P/E ratio of -4.69 and a beta of -0.04. Cullinan Therapeutics has a 12-month low of $5.68 and a 12-month high of $23.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly 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). Analysts predict that Cullinan Therapeutics will post -3.08 earnings per share for the current year.

Insider Transactions at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $21.57, for a total value of $172,560.00. Following the transaction, the insider directly owned 158,844 shares in the company, valued at approximately $3,426,265.08. This trade represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 46,000 shares of company stock worth $922,920. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Elmind Capital LP purchased a new position in shares of Cullinan Therapeutics in the 2nd quarter worth approximately $12,564,900. BlackRock Inc. purchased a new stake in Cullinan Therapeutics during the second quarter valued at approximately $95,289,000. Engineers Gate Manager LP lifted its position in Cullinan Therapeutics by 130.9% during 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 acquired a new stake in Cullinan Therapeutics in the second quarter valued at approximately $3,114,000. Finally, Blue Owl Capital Holdings LP acquired a new stake in Cullinan Therapeutics in the second quarter valued at approximately $28,039,000. Institutional investors own 86.31% of the company’s stock.

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.