Cullinan Therapeutics (NASDAQ:CGEM) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Cullinan Therapeutics (NASDAQ:CGEM) from a hold rating to a sell rating in a research note released on Sunday,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. BTIG Research upped their price objective on shares of Cullinan Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Cullinan Therapeutics in a research report on Monday, August 17th. Finally, Wedbush increased their price target on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $20.54 on Friday. The stock’s 50-day simple moving average is $19.56 and its 200 day simple moving average is $16.51. Cullinan Therapeutics has a 52-week low of $5.68 and a 52-week high of $23.19. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -6.63 and a beta of 0.02.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.01). On average, research analysts forecast that Cullinan Therapeutics will post -3.08 earnings per share for the current fiscal year.

Insider Activity at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 30,000 shares of Cullinan Therapeutics stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total value of $607,800.00. Following the transaction, the insider owned 162,844 shares in the company, valued at $3,299,219.44. This trade represents a 15.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 46,000 shares of company stock worth $922,920. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AlphaCentric Advisors LLC lifted its holdings in Cullinan Therapeutics by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 20,135 shares of the company’s stock worth $286,000 after buying an additional 1,094 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $25,000. ProShare Advisors LLC boosted its position in shares of Cullinan Therapeutics by 15.3% during the fourth quarter. ProShare Advisors LLC now owns 12,489 shares of the company’s stock valued at $129,000 after purchasing an additional 1,661 shares in the last quarter. Allworth Financial LP boosted its position in shares of Cullinan Therapeutics by 152.4% during the second quarter. Allworth Financial LP now owns 2,893 shares of the company’s stock valued at $53,000 after purchasing an additional 1,747 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Cullinan Therapeutics by 160.6% in the first quarter. Royal Bank of Canada now owns 4,044 shares of the company’s stock worth $58,000 after purchasing an additional 2,492 shares during the period. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Cullinan Therapeutics News Roundup

Here are the key news stories impacting Cullinan Therapeutics this week:

• Positive Sentiment: Interim REZILIENT3 results showed that zipalertinib combined with chemotherapy extended progression-free survival by approximately six months in patients with EGFR exon 20 insertion-positive lung cancer. The data support continued development of Cullinan’s lead oncology program. Cullinan’s Zipalertinib Plus Chemotherapy Extends PFS By 6 Months In EGFR Ex20+ Lung Cancer
• Positive Sentiment: BTIG Research raised its price target for CGEM from $39 to $40 and maintained a Buy rating. The new target implies substantial upside from recent trading levels, signaling continued analyst confidence in zipalertinib and Cullinan’s broader pipeline.
• Positive Sentiment: Cullinan hosted an analyst and investor event featuring the REZILIENT3 data, giving management an opportunity to explain the results and outline the regulatory and commercial path for zipalertinib. Cullinan Therapeutics to Host Virtual Analyst and Investor Event
• Neutral Sentiment: Management’s shareholder and analyst call, transcript, and presentation provided additional detail on the Phase 3 results and the company’s development strategy. The materials may help investors evaluate the durability of the benefit, safety profile, and potential regulatory implications. Cullinan Therapeutics Shareholder/Analyst Call Transcript
• Negative Sentiment: Although the progression-free-survival improvement was positive, the market response was negative, suggesting investors viewed the REZILIENT3 readout as insufficiently compelling relative to expectations or still requiring clarification on the full clinical and commercial opportunity. Cullinan Therapeutics Shares Fall After Phase 3 Zipalertinib Trial Results

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for cancer and other serious diseases. The company’s approach combines internally developed drug candidates with licensed or acquired programs and partnerships intended to address areas of significant unmet medical need.

Its pipeline has included zipalertinib, an oral tyrosine kinase inhibitor being developed for patients with non-small cell lung cancer whose tumors have EGFR exon 20 insertion mutations.