510,325 Shares in Cullinan Therapeutics, Inc. $CGEM Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 510,325 shares of Cullinan Therapeutics in the second quarter, valued at approximately $9.3 million; institutional investors and hedge funds now own 86.31% of the company.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $33.71, despite some sell ratings.
• CGEM shares opened at $14.81, down 4.1%, while the company reported a quarterly loss of $0.81 per share—slightly worse than estimates—and analysts project a full-year loss of $3.08 per share.

Bank of America Corp DE purchased a new position in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 510,325 shares of the company's stock, valued at approximately $9,293,000. Bank of America Corp DE owned approximately 0.79% of Cullinan Therapeutics at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CGEM. BlackRock Inc. bought a new position in Cullinan Therapeutics during the 2nd quarter worth approximately $95,289,000. Elmind Capital LP bought a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $12,564,900. Blue Owl Capital Holdings LP acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at approximately $28,039,000. The Manufacturers Life Insurance Company raised its position in shares of Cullinan Therapeutics by 347.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 75,310 shares of the company's stock valued at $1,070,000 after acquiring an additional 58,488 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Cullinan Therapeutics during the second quarter worth $3,114,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $21.57, for a total transaction of $172,560.00. Following the completion of the sale, the insider directly owned 158,844 shares of the company's stock, valued at $3,426,265.08. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 46,000 shares of company stock valued at $922,920. 8.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CGEM. HC Wainwright lifted their price objective on shares of Cullinan Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Friday. Wedbush increased their target price 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. Wall Street Zen lowered shares of Cullinan Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, September 13th. Finally, BTIG Research restated a "buy" rating and issued a $40.00 target price on shares of Cullinan Therapeutics in a research note on Friday. One investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $33.71.

Cullinan Therapeutics Trading Down 4.1%

Shares of NASDAQ:CGEM opened at $14.81 on Friday. The company has a 50 day moving average of $19.77 and a 200-day moving average of $16.70. The firm has a market cap of $953.17 million, a P/E ratio of -4.78 and a beta of 0.02. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $23.19.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.01). Equities research analysts forecast that Cullinan Therapeutics, Inc. will post -3.08 EPS for the current year.

Key Stories Impacting Cullinan Therapeutics

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

• Positive Sentiment: BTIG reaffirms a Buy rating and $40 price target. The target implies substantial upside from the recent trading level and indicates that BTIG continues to see significant value in Cullinan’s pipeline. Benzinga analyst rating report
• Positive Sentiment: Multiple clinical readouts are scheduled for the fourth quarter. Cullinan expects multi-dose velinotamig data in systemic lupus erythematosus at the ACR Convergence conference in November, followed by CLN-978 data in lupus, rheumatoid arthritis and Sjögren’s disease, plus updated CLN-049 data in December. These updates could provide important evidence for the company’s T-cell engager strategy. Cullinan fourth-quarter 2026 milestones
• Neutral Sentiment: Reported short interest was effectively zero. Data as of September 24 showed no reported shares sold short and a zero-day short-interest ratio, suggesting that short selling is not a clear explanation for the recent weakness. The figures may also reflect a reporting anomaly and should be interpreted cautiously.
• Negative Sentiment: Cullinan delayed early-stage arthritis-therapy data until December. The postponement removes a near-term catalyst and appears to have disappointed investors, increasing focus on execution and the timing of the company’s immunology programs. Cullinan delays arthritis-therapy data
• Negative Sentiment: Zipalertinib sentiment remains unsettled. Although Phase 3 lung-cancer results were characterized as strong, investors continue to question the drug’s safety profile and the durability of the bull case. Those concerns have overshadowed the efficacy data and contributed to selling pressure. CGEM stock and zipalertinib safety concerns

Cullinan Therapeutics Company Profile

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.

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