Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Receives $32.14 Consensus Target Price from Brokerages

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) has been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $32.8571.

A number of equities research analysts have weighed in on the stock. BTIG Research upped their price objective on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Cullinan Therapeutics in a report on Monday, June 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Wall Street Zen downgraded Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Wedbush raised their price objective on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday.

Insider Buying and Selling

In other news, insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the sale, the insider directly owned 162,844 shares of the company’s stock, valued at approximately $3,299,219.44. This represents a 15.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

Several large investors have recently modified their holdings of the stock. Lynx1 Capital Management LP grew its position in Cullinan Therapeutics by 31.0% during the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after purchasing an additional 1,365,248 shares during the last quarter. BlackRock Inc. bought a new stake in Cullinan Therapeutics during the 2nd quarter valued at about $95,289,000. State Street Corp raised its holdings in Cullinan Therapeutics by 31.0% in the fourth quarter. State Street Corp now owns 2,197,338 shares of the company’s stock worth $22,742,000 after buying an additional 520,024 shares during the last quarter. Affinity Asset Advisors LLC raised its holdings in Cullinan Therapeutics by 632.4% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock worth $19,997,000 after buying an additional 1,668,289 shares during the last quarter. Finally, Blue Owl Capital Holdings LP bought a new position in shares of Cullinan Therapeutics in the second quarter worth approximately $28,039,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Trending Headlines about Cullinan Therapeutics

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

• Positive Sentiment: Cullinan reported that a Phase 3 trial of its experimental lung-cancer drug met its primary endpoint. The result strengthens the program’s potential for regulatory approval and commercial development, making it the most significant positive driver for CGEM. Cullinan Therapeutics Says Phase 3 Trial of Experimental Lung Cancer Drug Met Primary Endpoint
• Positive Sentiment: Wedbush raised its price target to $42 from $39 and maintained an “outperform” rating, signaling greater confidence in Cullinan’s clinical and commercial outlook. The revised target implies substantial potential upside from the stock’s recent trading level. Wedbush Raises Cullinan Therapeutics Price Target
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” rating on Cullinan, indicating that sentiment remains favorable but is not uniformly bullish. Cullinan Therapeutics Receives Average Rating of Moderate Buy
• Negative Sentiment: An analyst lowered the forecast for Cullinan’s third-quarter EPS, suggesting expectations for near-term financial results have weakened. As a clinical-stage biotechnology company, CGEM remains loss-making, so changes in projected cash usage and losses can affect investor sentiment. Q3 EPS Forecast for Cullinan Therapeutics Lowered by Analyst
• Negative Sentiment: Chief executive Jennifer Michaelson sold 30,000 shares for approximately $607,800, reducing her direct ownership by 15.56%. Although she still owns a sizable position, insider selling can weigh on sentiment, particularly after a strong rally. SEC Insider Transaction Filing

Cullinan Therapeutics Trading Up 3.6%

Shares of CGEM stock opened at $20.34 on Thursday. The company’s fifty day moving average price is $17.05 and its 200-day moving average price is $15.07. The stock has a market cap of $1.31 billion, a PE ratio of -6.56 and a beta of 0.01. Cullinan Therapeutics has a 12 month low of $5.68 and a 12 month high of $21.00.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.01). On average, sell-side analysts forecast that Cullinan Therapeutics will post -3.04 earnings per share for the current fiscal 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.