Cullinan Therapeutics resumed with a Buy at Stifel

Stifel analyst Alex Thompson resumed coverage of Cullinan Therapeutics (CGEM) with a Buy rating and $22 price target citing a belief that B-cell depletion represents a highly-validated and versatile approach to the treatment of a vast array of autoimmune diseases and that next-gen approaches, including T-Cell Engagers, have the potential to achieve the right balance of depletion, safety, and ease of use to potentially achieve durable disease remissions. The firm views CLN-978 as “a highly-competitive asset in the growing space,” the analyst tells investors.