FY2024 Earnings Estimate for CGEM Issued By Leerink Partnrs

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) - Analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for Cullinan Therapeutics in a report released on Wednesday, February 5th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of ($2.88) per share for the year, up from their prior estimate of ($3.42). The consensus estimate for Cullinan Therapeutics' current full-year earnings is ($3.12) per share. Leerink Partnrs also issued estimates for Cullinan Therapeutics' Q4 2024 earnings at ($0.60) EPS, FY2025 earnings at ($3.24) EPS, FY2026 earnings at ($2.79) EPS and FY2027 earnings at $0.02 EPS.

CGEM has been the topic of several other research reports. UBS Group assumed coverage on Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a "buy" rating and a $30.00 price target on the stock. HC Wainwright upped their price target on Cullinan Therapeutics from $28.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $32.50.

Cullinan Therapeutics Trading Down 3.0 %

NASDAQ CGEM traded down $0.30 on Monday, reaching $9.59. 284,611 shares of the company were exchanged, compared to its average volume of 483,083. The business's fifty day moving average price is $11.18 and its 200 day moving average price is $14.61. The stock has a market capitalization of $558.43 million, a P/E ratio of -3.38 and a beta of -0.16. Cullinan Therapeutics has a fifty-two week low of $9.48 and a fifty-two week high of $30.19.

Institutional Trading of Cullinan Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CGEM. Amalgamated Bank increased its stake in Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company's stock valued at $30,000 after purchasing an additional 872 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in 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 purchasing an additional 1,195 shares in the last quarter. Invesco Ltd. increased its stake in Cullinan Therapeutics by 2.4% in the 4th quarter. Invesco Ltd. now owns 59,553 shares of the company's stock valued at $725,000 after purchasing an additional 1,395 shares in the last quarter. Federated Hermes Inc. increased its stake in Cullinan Therapeutics by 67.0% in the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock valued at $46,000 after purchasing an additional 1,525 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cullinan Therapeutics by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company's stock valued at $1,187,000 after purchasing an additional 2,377 shares in the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Nadim Ahmed sold 8,400 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider now directly owns 99,760 shares of the company's stock, valued at approximately $1,138,261.60. This trade represents a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,582 shares of company stock worth $246,977 in the last quarter. 6.07% of the stock is owned by company insiders.

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.