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

Cullinan Therapeutics (NASDAQ:CGEM) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts also recently commented on CGEM. BTIG Research raised their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Wedbush lifted their price target on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. New Street Research set a $26.00 price objective on Cullinan Therapeutics in a research report on Thursday, November 20th. Zacks Research upgraded shares of Cullinan Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, HC Wainwright upped their price target on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

Cullinan Therapeutics Stock Performance

Shares of CGEM opened at $12.50 on Friday. The stock has a market capitalization of $738.50 million, a P/E ratio of -3.78 and a beta of -0.09. The company’s fifty day moving average is $10.71 and its two-hundred day moving average is $8.55. Cullinan Therapeutics has a 1 year low of $5.68 and a 1 year high of $13.33.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, November 6th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.18. Sell-side analysts predict that Cullinan Therapeutics will post -3.04 EPS for the current year.

Insider Transactions at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 4,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $12.30, for a total transaction of $49,200.00. Following the completion of the transaction, the insider directly owned 128,635 shares in the company, valued at approximately $1,582,210.50. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Alan Jones sold 4,632 shares of Cullinan Therapeutics stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $9.67, for a total transaction of $44,791.44. Following the transaction, the insider owned 169,532 shares of the company’s stock, valued at approximately $1,639,374.44. The trade was a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,420 shares of company stock worth $356,082 in the last 90 days. Insiders own 7.16% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of large investors have recently bought and sold shares of CGEM. Assenagon Asset Management S.A. boosted its position in Cullinan Therapeutics by 1,665.9% during the third quarter. Assenagon Asset Management S.A. now owns 177,685 shares of the company’s stock worth $1,054,000 after acquiring an additional 167,623 shares during the last quarter. Voss Capital LP lifted its stake in shares of Cullinan Therapeutics by 43.8% during the 2nd quarter. Voss Capital LP now owns 251,717 shares of the company’s stock worth $1,895,000 after purchasing an additional 76,717 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cullinan Therapeutics during the second quarter worth $84,000. Franklin Resources Inc. grew its position in shares of Cullinan Therapeutics by 0.4% in the second quarter. Franklin Resources Inc. now owns 2,228,160 shares of the company’s stock valued at $16,778,000 after purchasing an additional 8,399 shares during the period. Finally, Tema Etfs LLC grew its position in shares of Cullinan Therapeutics by 9.0% in the second quarter. Tema Etfs LLC now owns 42,692 shares of the company’s stock valued at $321,000 after purchasing an additional 3,528 shares during the period. 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.