Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) CEO Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total value of $99,708.00. Following the completion of the sale, the chief executive officer now owns 263,150 shares of the company's stock, valued at $3,123,590.50. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Cullinan Therapeutics Trading Down 6.8 %
CGEM traded down $0.88 during trading on Friday, hitting $12.02. 1,400,300 shares of the company's stock were exchanged, compared to its average volume of 646,066. Cullinan Therapeutics, Inc. has a 1 year low of $9.91 and a 1 year high of $30.19. The stock has a 50 day moving average price of $13.83 and a 200 day moving average price of $16.32. The firm has a market cap of $699.90 million, a P/E ratio of -4.23 and a beta of -0.18.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, topping analysts' consensus estimates of ($0.78) by $0.09. Analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cullinan Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank lifted its position in Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company's stock worth $30,000 after acquiring an additional 872 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company's stock worth $155,000 after purchasing an additional 3,758 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of Cullinan Therapeutics in the second quarter valued at $182,000. Squarepoint Ops LLC acquired a new stake in Cullinan Therapeutics during the 2nd quarter valued at $186,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Cullinan Therapeutics by 64.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company's stock valued at $187,000 after purchasing an additional 4,380 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. HC Wainwright reissued a "buy" rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Wedbush reiterated an "outperform" rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Finally, UBS Group began coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $30.00 price objective for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics currently has an average rating of "Buy" and a consensus price target of $31.67.
View Our Latest Stock Report on Cullinan Therapeutics
Cullinan Therapeutics Company Profile
(
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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.
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