Key Points
- Insider sale: Jennifer Michaelson sold 30,000 Cullinan Therapeutics shares for approximately $607,800, reducing her direct ownership by 15.56% to 162,844 shares.
- Clinical progress supports the stock: Cullinan reported that a Phase 3 trial of its experimental lung-cancer drug met its primary endpoint, while Wedbush raised its price target to $42 and maintained an “outperform” rating.
- Financial and valuation context: Shares opened at $20.34, near their 52-week high of $21.00, but the company remains loss-making after reporting quarterly EPS of negative $0.81, slightly below analyst expectations. Analysts maintain a consensus “Moderate Buy” rating with a $32.86 target price.
Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 30,000 shares of the business's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the completion of the transaction, the insider directly owned 162,844 shares of the company's stock, valued at approximately $3,299,219.44. This trade represents a 15.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Jennifer Michaelson also recently made the following trade(s):
- On Monday, July 6th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $17.82, for a total value of $142,560.00.
Cullinan Therapeutics Stock Up 3.6%
CGEM opened at $20.34 on Friday. The firm has a market cap of $1.31 billion, a P/E ratio of -6.56 and a beta of 0.01. The business's fifty day simple moving average is $17.05 and its 200 day simple moving average is $15.07. Cullinan Therapeutics, Inc. has a 52 week low of $5.68 and a 52 week high of $21.00.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.01). As a group, equities analysts expect that Cullinan Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.
Key Headlines Impacting Cullinan Therapeutics
Here are the key news stories impacting Cullinan Therapeutics this week:
- Positive Sentiment: Cullinan reported that a Phase 3 trial of its experimental lung-cancer drug met its primary endpoint. The result strengthens the program’s potential for regulatory approval and commercial development, making it the most significant positive driver for CGEM. Cullinan Therapeutics Says Phase 3 Trial of Experimental Lung Cancer Drug Met Primary Endpoint
- Positive Sentiment: Wedbush raised its price target to $42 from $39 and maintained an “outperform” rating, signaling greater confidence in Cullinan’s clinical and commercial outlook. The revised target implies substantial potential upside from the stock’s recent trading level. Wedbush Raises Cullinan Therapeutics Price Target
- Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” rating on Cullinan, indicating that sentiment remains favorable but is not uniformly bullish. Cullinan Therapeutics Receives Average Rating of Moderate Buy
- Negative Sentiment: An analyst lowered the forecast for Cullinan’s third-quarter EPS, suggesting expectations for near-term financial results have weakened. As a clinical-stage biotechnology company, CGEM remains loss-making, so changes in projected cash usage and losses can affect investor sentiment. Q3 EPS Forecast for Cullinan Therapeutics Lowered by Analyst
- Negative Sentiment: Chief executive Jennifer Michaelson sold 30,000 shares for approximately $607,800, reducing her direct ownership by 15.56%. Although she still owns a sizable position, insider selling can weigh on sentiment, particularly after a strong rally. SEC Insider Transaction Filing
Hedge Funds Weigh In On Cullinan Therapeutics
A number of hedge funds have recently made changes to their positions in CGEM. Caitong International Asset Management Co. Ltd grew its stake in shares of Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company's stock valued at $28,000 after buying an additional 1,036 shares during the period. Allworth Financial LP bought a new position in Cullinan Therapeutics during the 2nd quarter valued at $53,000. Quantbot Technologies LP acquired a new stake in shares of Cullinan Therapeutics during the second quarter worth $53,000. Seven Fleet Capital Management LP acquired a new stake in Cullinan Therapeutics during the fourth quarter worth about $31,000. Finally, CWM LLC lifted its holdings in Cullinan Therapeutics by 51.5% in the fourth quarter. CWM LLC now owns 3,876 shares of the company's stock worth $40,000 after acquiring an additional 1,318 shares during the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Cullinan Therapeutics in a research note on Wednesday, July 8th. Wall Street Zen downgraded Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. BTIG Research upped their target price on Cullinan Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a research note 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, June 8th. Finally, Wedbush raised their price target on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Cullinan Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.86.
Check Out Our Latest Analysis on Cullinan Therapeutics
About Cullinan Therapeutics
(
Get Free Report)
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.
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