Cullinan Therapeutics (NASDAQ:CGEM) Coverage Initiated by Analysts at HC Wainwright

Key Points

• HC Wainwright has reiterated a buy rating for Cullinan Therapeutics (NASDAQ:CGEM) with a target price of $24.00, indicating a potential upside of 221.29% from the current stock price.
• Five research analysts currently rate Cullinan Therapeutics as a buy, with an average target price of $26.80, despite the company recently reporting a loss that missed consensus earnings estimates.
• Institutional investors hold 86.31% of Cullinan Therapeutics' stock, suggesting strong confidence among major financial players in the company's future prospects.

HC Wainwright began coverage on shares of Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $24.00 price target on the stock. HC Wainwright's target price suggests a potential upside of 213.93% from the company's previous close. HC Wainwright also issued estimates for Cullinan Therapeutics' Q1 2026 earnings at ($1.05) EPS and Q2 2026 earnings at ($1.08) EPS.

A number of other research analysts also recently issued reports on CGEM. Stifel Nicolaus assumed coverage on Cullinan Therapeutics in a report on Wednesday, June 11th. They set a "buy" rating and a $22.00 price target on the stock. Morgan Stanley lowered their price target on Cullinan Therapeutics from $35.00 to $28.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Finally, UBS Group lowered their price target on Cullinan Therapeutics from $30.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $26.80.

Cullinan Therapeutics Stock Up 0.1%

Shares of NASDAQ CGEM traded up $0.01 during trading on Thursday, reaching $7.65. The company had a trading volume of 426,754 shares, compared to its average volume of 419,333. Cullinan Therapeutics has a 12-month low of $6.85 and a 12-month high of $19.89. The stock has a market cap of $451.62 million, a PE ratio of -2.37 and a beta of -0.08. The business's 50-day moving average is $7.77 and its 200 day moving average is $8.14.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.24). On average, analysts anticipate that Cullinan Therapeutics will post -3.04 earnings per share for the current year.

Institutional Trading of Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CGEM. Brooklyn Investment Group purchased a new stake in Cullinan Therapeutics in the first quarter worth about $34,000. GAMMA Investing LLC increased its position in Cullinan Therapeutics by 1,214.8% in the first quarter. GAMMA Investing LLC now owns 6,995 shares of the company's stock worth $53,000 after buying an additional 6,463 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock worth $62,000 after buying an additional 2,523 shares in the last quarter. Virtus ETF Advisers LLC increased its position in Cullinan Therapeutics by 37.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock worth $71,000 after buying an additional 1,600 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in Cullinan Therapeutics in the fourth quarter worth about $77,000. Hedge funds and other institutional investors own 86.31% of the company's stock.

About Cullinan Therapeutics

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.