Cullinan Therapeutics (NASDAQ:CGEM) Shares Gap Up After Analyst Upgrade

Key Points

• Cullinan Therapeutics shares jumped after Wedbush raised its price target from $39 to $42 and maintained an “outperform” rating; the stock opened at $20.72 versus a prior close of $19.60.
• Analyst sentiment remains generally positive, with six Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $32.86.
• The company remains loss-making, reporting quarterly EPS of $(0.81), slightly below estimates, while analysts expect a full-year loss of about $3.03 per share.

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) gapped up before the market opened on Thursday after Wedbush raised their price target on the stock from $39.00 to $42.00. The stock had previously closed at $19.60, but opened at $20.72. Wedbush currently has an outperform rating on the stock. Cullinan Therapeutics shares last traded at $20.4230, with a volume of 243,271 shares trading hands.

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

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction on Monday, July 6th. The stock was sold at an average price of $17.82, for a total value of $142,560.00. Following the completion of the transaction, the insider directly owned 162,844 shares in the company, valued at approximately $2,901,880.08. The trade was a 4.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.60% of the company's stock.

Key Stories Impacting Cullinan Therapeutics

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

• Positive Sentiment: Analysts maintain a favorable view of Cullinan Therapeutics. The company received an average “Moderate Buy” rating, while HC Wainwright reiterated its “Buy” rating and $30 price target—well above the roughly $19.60 reference price. Cullinan Therapeutics Receives Average Rating of Moderate Buy from Analysts
• Positive Sentiment: HC Wainwright’s 2027 quarterly forecasts call for progressively smaller losses, including estimated EPS of $(0.77) in the first quarter and $(0.82) in the fourth quarter, suggesting expectations for gradual improvement over time. Cullinan Therapeutics analyst estimates
• Neutral Sentiment: Reported short interest was zero shares as of August 11, unchanged from the prior report. With a zero days-to-cover ratio, the data provides no evidence of meaningful short-selling pressure or a potential short squeeze.
• Negative Sentiment: HC Wainwright lowered its 2026 EPS forecast to a $(3.53) loss from $(3.42), and cut its third-quarter 2026 estimate to $(0.90) from $(0.87) and fourth-quarter estimate to $(0.93) from $(0.90). The revisions reinforce that Cullinan remains loss-making and may require continued spending or financing while advancing its pipeline.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CGEM. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cullinan Therapeutics in the second quarter valued at approximately $5,326,000. Quantbot Technologies LP purchased a new position in Cullinan Therapeutics during the second quarter valued at approximately $53,000. Ieq Capital LLC bought a new stake in Cullinan Therapeutics during the 2nd quarter worth approximately $614,000. Allworth Financial LP bought a new stake in Cullinan Therapeutics during the 2nd quarter worth approximately $53,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in Cullinan Therapeutics in the 2nd quarter worth approximately $28,039,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Cullinan Therapeutics Trading Up 2.2%

The company's fifty day simple moving average is $16.81 and its 200 day simple moving average is $14.99. The stock has a market capitalization of $1.29 billion, a P/E ratio of -6.51 and a beta of 0.01.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.01). Equities research analysts predict that Cullinan Therapeutics, Inc. will post -3.03 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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