Cullinan Therapeutics (NASDAQ:CGEM) Price Target Raised to $33.00

Cullinan Therapeutics (NASDAQ:CGEM) had its target price hoisted by HC Wainwright from $28.00 to $33.00 in a research note issued to investors on Wednesday,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 assumed coverage on shares of Cullinan Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of “Buy” and an average price target of $32.50.

Cullinan Therapeutics Price Performance

Shares of CGEM opened at $10.56 on Wednesday. Cullinan Therapeutics has a 1-year low of $9.50 and a 1-year high of $30.19. The stock has a market cap of $614.91 million, a price-to-earnings ratio of -3.72 and a beta of -0.14. The firm has a 50 day simple moving average of $11.70 and a 200-day simple moving average of $15.19.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.09. On average, equities analysts expect that Cullinan Therapeutics will post -3.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total value of $43,682.28. Following the transaction, the insider now owns 104,453 shares in the company, valued at $1,307,751.56. This trade represents a 3.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nadim Ahmed sold 8,400 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total value of $99,708.00. Following the sale, the chief executive officer now owns 263,150 shares of the company’s stock, valued at approximately $3,123,590.50. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,582 shares of company stock valued at $372,097. Insiders own 6.07% of the company’s stock.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of large investors have recently modified their holdings of CGEM. New York State Common Retirement Fund increased its position in Cullinan Therapeutics by 32.9% during the 4th quarter. New York State Common Retirement Fund now owns 12,918 shares of the company’s stock worth $157,000 after purchasing an additional 3,200 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Cullinan Therapeutics by 8.5% in the 4th quarter. Rhumbline Advisers now owns 68,208 shares of the company’s stock valued at $831,000 after acquiring an additional 5,348 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Cullinan Therapeutics by 10.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock valued at $150,000 after acquiring an additional 1,195 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Cullinan Therapeutics during the 4th quarter worth $136,000. Finally, SG Americas Securities LLC increased its holdings 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 purchasing an additional 8,144 shares in the last quarter. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

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.