Cullinan Therapeutics (NASDAQ:CGEM) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Cullinan Therapeutics to “Sell” from “Hold,” although the broader analyst consensus remains “Moderate Buy,” with six Buy ratings, one Hold, and one Sell rating.
• CGEM shares fell 5.8%, opening at $16.50, below the consensus analyst price target of $32.14. The company reported a quarterly loss of $0.75 per share, beating estimates for a $0.84 loss.
• Insider Jennifer Michaelson sold 8,000 shares at an average price of $17.82, while institutional investors own 86.31% of the company. Cullinan is developing oncology treatments, including therapies in Phase I trials for solid tumors, leukemia, and lung cancer.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other research firms also recently weighed in on CGEM. BTIG Research raised their price objective on Cullinan Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a report on Monday, June 8th. Finally, Wedbush restated an "outperform" rating and issued a $37.00 price target on shares of Cullinan Therapeutics in a research report on Thursday, June 11th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cullinan Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $32.14.

Cullinan Therapeutics Trading Down 5.8%

CGEM stock opened at $16.50 on Friday. The company's 50-day moving average price is $16.38 and its 200 day moving average price is $14.57. Cullinan Therapeutics has a 52 week low of $5.68 and a 52 week high of $19.43. The company has a market cap of $1.01 billion, a P/E ratio of -4.91 and a beta of -0.01.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.84) by $0.09. On average, equities research analysts expect that Cullinan Therapeutics will post -3.06 earnings per share for the current year.

Insider Buying and Selling at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $17.82, for a total transaction of $142,560.00. Following the completion of the transaction, the insider directly owned 162,844 shares of the company's stock, valued at $2,901,880.08. This trade represents a 4.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company's stock worth $28,000 after acquiring an additional 1,036 shares during the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of Cullinan Therapeutics during the fourth quarter valued at $31,000. CWM LLC boosted its stake in shares of Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company's stock valued at $40,000 after acquiring an additional 1,318 shares during the last quarter. Signaturefd LLC increased its position in Cullinan Therapeutics by 689.7% during the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company's stock worth $43,000 after purchasing an additional 3,607 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Cullinan Therapeutics by 160.6% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 86.31% of the company's stock.

Cullinan Therapeutics Company Profile

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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