H.C. Wainwright Reiterates Buy Rating on Cullinan Oncology Inc. (CGEM)

H.C. Wainwright analyst Robert Burns reiterated a Buy rating and $24.00 price target on Cullinan Oncology Inc. (NASDAQ: CGEM).

The analyst commented: "We remind investors that CLN-978 is a novel CD19xCD3 T cell engager with the potential to be a first-in-class, off-the-shelf, subcutaneous, disease modifying treatment in autoimmune diseases, with a differentiated safety profile. Cullinan has ongoing global Phase 1 studies evaluating CLN-978 in systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA). The Phase 1 trial in SLE is designed to enroll patients with a Systemic Lupus Erythematosus Disease Activity Index (SLEDAI) score of 8 or greater who have had an inadequate response to at least two treatments, including one immunosuppressive or biologic standard-of-care agent. Part A of the study is a dose escalation phase to determine the CLN-978 target dose for further development, starting at 10 micrograms. Part B of the study is a dose expansion phase to explore multiple dose schedules informed by Part A. The trial’s primary objective is to evaluate safety and tolerability of CLN-978 in active SLE. Cullinan currently plans to report initial clinical data from that study during 1H26 vs. previous guidance for data release in late 2025. The Phase 1 global trial in RA is currently enrolling RA patients who meet the 2010 EULAR/ACR criteria and have had an inadequate response to at least two disease-modifying anti-rheumatic drugs (DMARDs) after conventional synthetic DMARD treatment; we continue to expect initial results from this trial in 1H26. We reiterate our Buy rating and 12-month price target of $24."

For an analyst ratings summary and ratings history on Cullinan Oncology Inc. click here. For more ratings news on Cullinan Oncology Inc. click here.

Shares of Cullinan Oncology Inc. closed at $6.91 yesterday.

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