FY2029 Earnings Estimate for CGEM Issued By Wedbush

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) – Investment analysts at Wedbush issued their FY2029 earnings per share estimates for shares of Cullinan Therapeutics in a report issued on Thursday, February 27th. Wedbush analyst R. Driscoll forecasts that the company will post earnings of ($2.22) per share for the year. The consensus estimate for Cullinan Therapeutics’ current full-year earnings is ($3.04) per share.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02.

Separately, HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a research note on Friday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.50.

Cullinan Therapeutics Trading Down 5.8 %

NASDAQ CGEM opened at $8.00 on Monday. The company has a market capitalization of $465.82 million, a PE ratio of -2.82 and a beta of -0.16. The business’s 50-day moving average price is $10.45 and its 200 day moving average price is $13.85. Cullinan Therapeutics has a twelve month low of $7.95 and a twelve month high of $30.19.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 4,693 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $11.41, for a total value of $53,547.13. Following the completion of the transaction, the insider now owns 99,760 shares in the company, valued at approximately $1,138,261.60. This represents a 4.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nadim Ahmed sold 8,400 shares of the 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 completion of the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 38,006 shares of company stock valued at $395,604 over the last 90 days. 6.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CGEM. Braidwell LP boosted its position in Cullinan Therapeutics by 567.6% during the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock worth $19,689,000 after acquiring an additional 1,000,000 shares during the period. Boxer Capital Management LLC acquired a new position in shares of Cullinan Therapeutics during the fourth quarter worth approximately $11,058,000. Orbimed Advisors LLC raised its position in shares of Cullinan Therapeutics by 81.5% during the fourth quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company’s stock valued at $23,660,000 after buying an additional 872,500 shares during the last quarter. Lynx1 Capital Management LP raised its stake in shares of Cullinan Therapeutics by 206.2% in the fourth quarter. Lynx1 Capital Management LP now owns 1,257,795 shares of the company’s stock valued at $15,320,000 after purchasing an additional 846,965 shares in the last quarter. Finally, Patient Square Capital LP acquired a new position in Cullinan Therapeutics in the third quarter worth about $13,806,000. Institutional investors and hedge funds 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.