What is Wedbush’s Forecast for CGEM FY2029 Earnings?

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) – Analysts at Wedbush issued their FY2029 EPS estimates for shares of Cullinan Therapeutics in a research report issued to clients and 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.

Separately, HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a report on Friday, February 28th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $32.50.

Cullinan Therapeutics Price Performance

Shares of CGEM stock opened at $8.13 on Monday. The company’s fifty day simple moving average is $10.37 and its two-hundred day simple moving average is $13.79. Cullinan Therapeutics has a 1 year low of $7.90 and a 1 year high of $30.19. The stock has a market capitalization of $473.39 million, a price-to-earnings ratio of -2.86 and a beta of -0.16.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RTW Investments LP grew its position in Cullinan Therapeutics by 62.1% in the third quarter. RTW Investments LP now owns 1,705,960 shares of the company’s stock worth $28,558,000 after acquiring an additional 653,330 shares in the last quarter. Braidwell LP grew its position in Cullinan Therapeutics by 567.6% in the third 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 in the last quarter. Harbor Capital Advisors Inc. grew its position in Cullinan Therapeutics by 43.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,747 shares of the company’s stock worth $374,000 after acquiring an additional 9,385 shares in the last quarter. JPMorgan Chase & Co. grew its position in Cullinan Therapeutics by 25.1% in the third quarter. JPMorgan Chase & Co. now owns 29,110 shares of the company’s stock worth $487,000 after acquiring an additional 5,842 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Cullinan Therapeutics by 23.8% during the third quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company’s stock valued at $20,233,000 after buying an additional 231,935 shares during the period. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jeffrey Alan Jones sold 4,895 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $41,754.35. Following the completion of the transaction, the insider now directly owns 174,164 shares in the company, valued at $1,485,618.92. The trade was a 2.73 % 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 12,529 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the transaction, the chief executive officer now owns 430,621 shares of the company’s stock, valued at $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 38,006 shares of company stock worth $395,604 in the last three months. Corporate insiders own 6.07% of the company’s stock.

About Cullinan Therapeutics

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.