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

Key Points

• HC Wainwright reaffirmed a “Buy” rating on Cullinan Therapeutics and set a $35 price target, implying 140.88% upside from the prior close.
• Analyst sentiment is generally positive, with MarketBeat reporting a consensus rating of “Moderate Buy” and an average price target of $33.71, despite some sell ratings.
• Cullinan reported quarterly EPS of ($0.81), slightly missing the ($0.80) consensus estimate. Shares opened at $14.53, while insiders have sold $922,920 worth of stock over the past 90 days.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $35.00 price objective on the stock. HC Wainwright's price objective would indicate a potential upside of 140.88% from the company'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 analysts have also issued reports on CGEM. Weiss Ratings restated a "sell (d-)" rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, September 13th. Wedbush upped their price target on shares of 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 raised shares of Cullinan Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $40.00 price target on shares of Cullinan Therapeutics in a research note on Friday, September 25th. One research 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, the company has a consensus rating of "Moderate Buy" and an average price target of $33.71.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ:CGEM opened at $14.53 on Friday. Cullinan Therapeutics has a one year low of $5.68 and a one year high of $23.19. The stock has a fifty day moving average of $19.56 and a 200-day moving average of $16.73. The company has a market capitalization of $935.15 million, a PE ratio of -4.69 and a beta of -0.04.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced 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). As a group, research analysts forecast that Cullinan Therapeutics will post -3.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total transaction of $607,800.00. Following the transaction, the insider directly owned 162,844 shares of the company's stock, valued at $3,299,219.44. This represents a 15.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 46,000 shares of company stock worth $922,920 over the last 90 days. Corporate insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Several hedge funds have recently bought and sold shares of CGEM. Engineers Gate Manager LP increased 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 worth $2,787,000 after buying an additional 86,762 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Cullinan Therapeutics during the second quarter worth $25,000. Squarepoint Ops LLC acquired a new position in Cullinan Therapeutics during the second quarter worth $3,061,000. Allworth Financial LP increased its position in Cullinan Therapeutics by 152.4% during the second quarter. Allworth Financial LP now owns 2,893 shares of the company's stock worth $53,000 after buying an additional 1,747 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in Cullinan Therapeutics during the second quarter worth $190,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Cullinan Therapeutics Company Profile

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.