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

Cullinan Therapeutics (NASDAQ:CGEM)‘s stock had its “buy” rating reissued by HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $35.00 target price on the stock. HC Wainwright’s price objective would indicate 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.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. TD Cowen raised Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. BTIG Research restated a “buy” rating and set a $40.00 price target on shares of Cullinan Therapeutics in a research note on Friday, September 25th. Wedbush lifted their price target 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, Wall Street Zen cut shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, September 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cullinan Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $33.71.

Cullinan Therapeutics Trading Down 5.3%

Shares of CGEM opened at $14.53 on Friday. The firm’s fifty day simple moving average is $19.56 and its 200-day simple moving average is $16.73. The firm has a market capitalization of $935.15 million, a price-to-earnings ratio of -4.69 and a beta of -0.04. Cullinan Therapeutics has a twelve month low of $5.68 and a twelve month high of $23.19.

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

Insiders Place Their Bets

In other news, insider Jennifer Michaelson sold 8,000 shares of the 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 46,000 shares of company stock valued at $922,920. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Cullinan Therapeutics during the second quarter worth about $25,000. Allworth Financial LP acquired a new stake in shares of Cullinan Therapeutics in the 2nd quarter worth approximately $53,000. Quantbot Technologies LP acquired a new position in Cullinan Therapeutics during the second quarter worth $53,000. Seven Fleet Capital Management LP purchased a new position in shares of Cullinan Therapeutics in the fourth quarter valued at $31,000. Finally, Royal Bank of Canada boosted its position in shares of Cullinan Therapeutics by 160.6% in the 1st quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock worth $58,000 after buying an additional 2,492 shares in the last quarter. 86.31% of the stock is 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.