Cullinan Therapeutics' (CGEM) Buy Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Cullinan Therapeutics and set a $40 price target, implying 159% potential upside from the stock’s previous close. Analysts overall maintain a “Moderate Buy” consensus with an average target of $33.71.
• Cullinan’s valuation is driven by upcoming clinical catalysts across its T-cell engager pipeline, including data for velinotamig, CLN-978 and CLN-049 expected in November and December 2026.
• The company remains unprofitable, recently reported a quarterly EPS loss of $0.81, and faces investor concerns over delayed arthritis data and the safety profile of zipalertinib. Insiders have sold 46,000 shares over the past 90 days.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at BTIG Research in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $40.00 price target on the stock. BTIG Research's price target would indicate a potential upside of 159.07% from the stock's previous close.

Other equities analysts have also issued research reports about the company. HC Wainwright raised their price objective on Cullinan Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday. TD Cowen upgraded Cullinan Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. Wedbush lifted their price target on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen lowered Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.71.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $15.44 on Friday. The stock's fifty day moving average price is $19.83 and its two-hundred day moving average price is $16.71. Cullinan Therapeutics has a one year low of $5.68 and a one year high of $23.19. The firm has a market cap of $993.72 million, a PE ratio of -4.98 and a beta of 0.02.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted 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). Sell-side analysts expect that Cullinan Therapeutics will post -3.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the firm's stock in a transaction 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 sale, the insider owned 158,844 shares of the company's stock, valued at $3,426,265.08. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 46,000 shares of company stock worth $922,920. Company insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at $95,289,000. Blue Owl Capital Holdings LP acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at $28,039,000. Dimensional Fund Advisors LP boosted its holdings in shares of Cullinan Therapeutics by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 906,028 shares of the company's stock valued at $12,870,000 after acquiring an additional 57,259 shares in the last quarter. Boone Capital Management LLC acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at $12,828,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at $12,803,000. Institutional investors and hedge funds own 86.31% of the company's stock.

Cullinan Therapeutics News Summary

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

• Positive Sentiment: BTIG Research reaffirmed its Buy rating and set a $40 price target, implying substantial upside from the recent trading level. This indicates the firm believes Cullinan’s pipeline is undervalued. BTIG Research rating and price target
• Positive Sentiment: Cullinan outlined multiple fourth-quarter 2026 data catalysts, including velinotamig multi-dose data in systemic lupus erythematosus at the November ACR Convergence meeting, plus CLN-978 data in lupus, rheumatoid arthritis and Sjögren’s disease and updated CLN-049 Phase 1 data in December. Cullinan Therapeutics fourth-quarter pipeline milestones
• Neutral Sentiment: The company’s broader T-cell engager pipeline remains the main source of potential value, with clinical updates planned across three programs. The impact will depend on the quality and durability of the forthcoming data. Cullinan Therapeutics T-cell engager milestones
• Negative Sentiment: Cullinan delayed an early-stage clinical update for its arthritis therapy until December. The postponement removes a near-term catalyst and has increased investor uncertainty regarding the program’s progress. Cullinan delays arthritis therapy data
• Negative Sentiment: Although recent Phase 3 zipalertinib data for lung cancer were described as strong, investor concerns about the drug’s safety profile remain. Those concerns have overshadowed the efficacy data and contributed to the stock’s decline. CGEM losses and zipalertinib safety concerns

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for cancer and other serious diseases. The company's approach combines internally developed drug candidates with licensed or acquired programs and partnerships intended to address areas of significant unmet medical need.

Its pipeline has included zipalertinib, an oral tyrosine kinase inhibitor being developed for patients with non-small cell lung cancer whose tumors have EGFR exon 20 insertion mutations.