What is Wedbush's Estimate for CGEM FY2029 Earnings?

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) - Investment analysts at Wedbush issued their FY2029 earnings estimates for Cullinan Therapeutics in a note issued to investors 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 - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.75) by $0.02.

Separately, HC Wainwright reiterated a "buy" rating and set a $33.00 price target on shares of Cullinan Therapeutics in a research report on Friday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $32.50.

Cullinan Therapeutics Stock Down 5.8 %

CGEM traded down $0.49 during trading on Monday, hitting $8.00. The company's stock had a trading volume of 476,667 shares, compared to its average volume of 467,409. Cullinan Therapeutics has a 12 month low of $7.95 and a 12 month high of $30.19. The stock has a market capitalization of $465.82 million, a price-to-earnings ratio of -2.82 and a beta of -0.16. The firm's 50 day moving average price is $10.53 and its two-hundred day moving average price is $13.91.

Insider Transactions at Cullinan Therapeutics

In other news, insider Jeffrey Alan Jones sold 4,895 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $41,754.35. Following the transaction, the insider now owns 174,164 shares of the company's stock, valued at approximately $1,485,618.92. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the sale, the chief executive officer now directly owns 430,621 shares of the company's stock, valued at approximately $3,673,197.13. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,006 shares of company stock worth $395,604 over the last 90 days. 6.07% of the stock is owned by insiders.

Institutional Trading of Cullinan Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cullinan Therapeutics by 29.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,792 shares of the company's stock valued at $1,118,000 after purchasing an additional 20,881 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Cullinan Therapeutics in the 4th quarter valued at $2,038,000. Two Sigma Advisers LP increased its position in shares of Cullinan Therapeutics by 22.3% in the 4th quarter. Two Sigma Advisers LP now owns 21,900 shares of the company's stock valued at $267,000 after buying an additional 4,000 shares in the last quarter. Two Sigma Investments LP raised its stake in Cullinan Therapeutics by 83.9% during the 4th quarter. Two Sigma Investments LP now owns 42,205 shares of the company's stock worth $514,000 after buying an additional 19,261 shares during the period. Finally, Tema Etfs LLC acquired a new stake in Cullinan Therapeutics during the 4th quarter worth $346,000. 86.31% of the stock is owned by 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.