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Jeffrey Alan Jones, the Chief Medical (TASE:BLWV) Officer of Cullinan Therapeutics, Inc. (NASDAQ:CGEM), recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Jones sold 4,895 shares of common stock on February 25, 2025, at a price of $8.53 per share, near the stock’s 52-week low of $8.35. The transaction totaled $41,754. InvestingPro data shows the stock has declined over 55% in the past six months, though current analysis suggests the stock may be undervalued.
This sale was conducted to cover personal income tax obligations related to the vesting of restricted stock units, as noted in the filing. Following this transaction, Jones retains ownership of 174,164 shares in the company. While the company faces near-term challenges, InvestingPro analysis reveals strong liquidity with a current ratio of 24.46 and more cash than debt on its balance sheet. Subscribers can access 12 additional ProTips and comprehensive financial metrics for deeper insight into CGEM’s performance.
In other recent news, Cullinan Oncology has been in the spotlight following significant developments. The company announced that its Phase 2b REZILIENT1 trial for zipalertinib, targeting non-small cell lung cancer with EGFR exon20 insertion mutations, successfully met its primary endpoint. This trial’s success has led H.C. Wainwright to raise its price target for Cullinan Oncology from $28 to $33, while maintaining a Buy rating. The firm anticipates zipalertinib could launch in 2026, with projected initial sales of $41 million, potentially growing to $397 million by 2031.
Additionally, Clear Street has initiated coverage of Cullinan Oncology with a Buy rating and a $30 price target. The firm’s analysis highlights the potential of Cullinan’s drug, CLN-978, in treating systemic lupus erythematosus and rheumatoid arthritis, a market valued at over $10 billion. Clear Street notes Cullinan’s strong financial position, with an enterprise value of approximately $91 million and cash reserves around $600 million. The anticipated commercial potential of CLN-978 is a key factor in the optimistic outlook, with forecasted peak sales of about $2.0 billion. These developments reflect a positive sentiment among analysts regarding Cullinan Oncology’s future prospects.
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