Cullinan Therapeutics (NASDAQ:CGEM) Price Target Raised to $42.00

Cullinan Therapeutics (NASDAQ:CGEM) had its target price raised by Wedbush from $39.00 to $42.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. BTIG Research upped their price target on Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Cullinan Therapeutics in a report on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cullinan Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $32.86.

Cullinan Therapeutics Stock Performance

CGEM opened at $20.34 on Thursday. Cullinan Therapeutics has a fifty-two week low of $5.68 and a fifty-two week high of $21.00. The company has a fifty day moving average of $17.05 and a two-hundred day moving average of $15.07. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -6.56 and a beta of 0.01.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data 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, equities research analysts forecast that Cullinan Therapeutics will post -3.04 earnings per share for the current year.

Insider Activity

In other news, insider Jennifer Michaelson sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $20.26, for a total transaction of $607,800.00. Following the completion of the sale, the insider owned 162,844 shares of the company’s stock, valued at $3,299,219.44. The trade was a 15.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in Cullinan Therapeutics by 347.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 75,310 shares of the company’s stock worth $1,070,000 after purchasing an additional 58,488 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cullinan Therapeutics in the first quarter valued at about $1,356,000. Boothbay Fund Management LLC acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at about $12,803,000. Dimensional Fund Advisors LP lifted its stake in shares of Cullinan Therapeutics by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company’s stock worth $12,870,000 after buying an additional 57,259 shares in the last quarter. Finally, UBS Group AG lifted its stake in shares of Cullinan Therapeutics by 44.4% in the fourth quarter. UBS Group AG now owns 271,736 shares of the company’s stock worth $2,812,000 after buying an additional 83,551 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Cullinan Therapeutics

Here are the key news stories impacting Cullinan Therapeutics this week:

• Positive Sentiment: Cullinan reported that a Phase 3 trial of its experimental lung-cancer drug met its primary endpoint. The result strengthens the program’s potential for regulatory approval and commercial development, making it the most significant positive driver for CGEM. Cullinan Therapeutics Says Phase 3 Trial of Experimental Lung Cancer Drug Met Primary Endpoint
• Positive Sentiment: Wedbush raised its price target to $42 from $39 and maintained an “outperform” rating, signaling greater confidence in Cullinan’s clinical and commercial outlook. The revised target implies substantial potential upside from the stock’s recent trading level. Wedbush Raises Cullinan Therapeutics Price Target
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” rating on Cullinan, indicating that sentiment remains favorable but is not uniformly bullish. Cullinan Therapeutics Receives Average Rating of Moderate Buy
• Negative Sentiment: An analyst lowered the forecast for Cullinan’s third-quarter EPS, suggesting expectations for near-term financial results have weakened. As a clinical-stage biotechnology company, CGEM remains loss-making, so changes in projected cash usage and losses can affect investor sentiment. Q3 EPS Forecast for Cullinan Therapeutics Lowered by Analyst
• Negative Sentiment: Chief executive Jennifer Michaelson sold 30,000 shares for approximately $607,800, reducing her direct ownership by 15.56%. Although she still owns a sizable position, insider selling can weigh on sentiment, particularly after a strong rally. SEC Insider Transaction Filing

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc, a biopharmaceutical company, focuses on developing oncology therapies for cancer patients in the United States. The company's lead program comprises CLN-619, a monoclonal antibody that is in Phase I clinical trial for the treatment of solid tumors. Its development portfolio also includes CLN-049, a humanized bispecific antibody that is in Phase I clinical trial for the treatment of acute myeloid leukemia or myelodysplastic syndrome; CLN-418, a human bispecific immune activator that is in Phase 1 clinical trial for the treatment of multiple solid tumors; and Zipalertinib, a bioavailable small-molecule for treating patients with non-small cell lung cancer.