Cullinan Therapeutics (NASDAQ:CGEM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Cullinan Therapeutics (NASDAQ:CGEM) had its price target upped by HC Wainwright from $28.00 to $33.00 in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Cullinan Therapeutics’ Q1 2025 earnings at ($0.80) EPS, Q2 2025 earnings at ($0.84) EPS and Q3 2025 earnings at ($0.90) EPS.

Separately, UBS Group started coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $32.50.

Cullinan Therapeutics Trading Down 3.8 %

Shares of CGEM stock opened at $10.56 on Wednesday. Cullinan Therapeutics has a twelve month low of $9.50 and a twelve month high of $30.19. The company has a market capitalization of $614.91 million, a PE ratio of -3.72 and a beta of -0.14. The firm has a fifty day simple moving average of $11.70 and a 200-day simple moving average of $15.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.09. Equities research analysts predict that Cullinan Therapeutics will post -3.12 EPS for the current 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, November 5th. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00. Following the sale, the insider now directly owns 107,942 shares in the company, valued at approximately $1,688,212.88. This represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nadim Ahmed sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total value of $99,708.00. Following the transaction, the chief executive officer now owns 263,150 shares of the company’s stock, valued at $3,123,590.50. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,582 shares of company stock valued at $372,097 in the last quarter. Insiders own 6.07% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors have recently modified their holdings of CGEM. New York State Common Retirement Fund lifted its position in Cullinan Therapeutics by 32.9% in the 4th quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock valued at $157,000 after purchasing an additional 3,200 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Cullinan Therapeutics by 8.5% during the fourth quarter. Rhumbline Advisers now owns 68,208 shares of the company’s stock valued at $831,000 after buying an additional 5,348 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Cullinan Therapeutics by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after buying an additional 1,195 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Cullinan Therapeutics in the 4th quarter worth approximately $136,000. Finally, SG Americas Securities LLC increased its position in Cullinan Therapeutics by 54.1% in the 4th quarter. SG Americas Securities LLC now owns 23,201 shares of the company’s stock valued at $283,000 after acquiring an additional 8,144 shares during the period. Institutional investors own 86.31% of the company’s stock.

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.