William Blair analyst Matt Phipps has reiterated their bullish stance on CGEM stock, giving a Buy rating yesterday.
Matt Phipps has given his Buy rating due to a combination of factors that highlight Cullinan Management’s potential despite recent setbacks. The decision not to advance CLN-619 into gynecological cancer indications was disappointing; however, the market had not factored in any value for this program, making the current share price attractive based on the potential of CLN-978 in autoimmune diseases. The company’s robust financial position, with funding secured through 2028, supports the continued development of its promising pipeline.
Additionally, while the CLN-619 program did not meet internal thresholds for advancement in certain cancer types, Cullinan Management’s strategic focus on maintaining high standards for progression is commendable. The ongoing studies in NSCLC and multiple myeloma, alongside promising early results in combination therapies, suggest a strong potential for future success. These elements collectively underpin Matt Phipps’s confidence in the company’s long-term growth prospects, leading to the Buy rating.