Cullinan Therapeutics (NASDAQ:CGEM) Shares Gap Down – What’s Next?

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) gapped down before the market opened on Monday . The stock had previously closed at $20.59, but opened at $18.55. Cullinan Therapeutics shares last traded at $20.00, with a volume of 230,917 shares trading hands.

More Cullinan Therapeutics News

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

Analysts Set New Price Targets

Several research firms have issued reports on CGEM. TD Cowen upgraded Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Cullinan Therapeutics in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Wedbush upped their price target on shares of Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cullinan Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Cullinan Therapeutics Stock Up 0.7%

The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -6.63 and a beta of 0.02. The firm has a 50-day moving average of $19.56 and a two-hundred day moving average of $16.51.

Cullinan Therapeutics (NASDAQ:CGEM) last announced 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). As a group, sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.08 EPS for the current year.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 162,844 shares in the company, valued at $3,299,219.44. This represents a 15.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 46,000 shares of company stock valued at $922,920. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cullinan Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP increased its position in Cullinan Therapeutics by 130.9% in the 2nd quarter. Engineers Gate Manager LP now owns 153,050 shares of the company’s stock worth $2,787,000 after purchasing an additional 86,762 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at about $25,000. Squarepoint Ops LLC acquired a new stake in shares of Cullinan Therapeutics during the 2nd quarter valued at about $3,061,000. Allworth Financial LP lifted its holdings in shares of Cullinan Therapeutics by 152.4% during the 2nd quarter. Allworth Financial LP now owns 2,893 shares of the company’s stock valued at $53,000 after buying an additional 1,747 shares during the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $190,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

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.