Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells $41,754.35 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jeffrey Alan Jones sold 4,895 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $41,754.35. Following the completion of the sale, the insider now directly owns 174,164 shares of the company's stock, valued at $1,485,618.92. This trade represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cullinan Therapeutics Stock Down 5.8 %

NASDAQ:CGEM traded down $0.49 on Monday, reaching $8.00. The company's stock had a trading volume of 264,245 shares, compared to its average volume of 461,124. Cullinan Therapeutics, Inc. has a 12-month low of $8.14 and a 12-month high of $30.19. The stock has a 50 day moving average price of $10.53 and a 200 day moving average price of $13.91. The firm has a market cap of $465.88 million, a price-to-earnings ratio of -2.81 and a beta of -0.16.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating analysts' consensus estimates of ($0.75) by $0.02. Equities research analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a "buy" rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $32.50.

Institutional Trading of Cullinan Therapeutics

Several institutional investors have recently added to or reduced their stakes in CGEM. Braidwell LP boosted its position in shares of Cullinan Therapeutics by 567.6% during the third quarter. Braidwell LP now owns 1,176,173 shares of the company's stock worth $19,689,000 after buying an additional 1,000,000 shares during the period. Boxer Capital Management LLC acquired a new position in Cullinan Therapeutics during the 4th quarter worth about $11,058,000. Orbimed Advisors LLC boosted its holdings in Cullinan Therapeutics by 81.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company's stock valued at $23,660,000 after acquiring an additional 872,500 shares during the period. Lynx1 Capital Management LP grew its position in Cullinan Therapeutics by 206.2% in the 4th quarter. Lynx1 Capital Management LP now owns 1,257,795 shares of the company's stock valued at $15,320,000 after acquiring an additional 846,965 shares in the last quarter. Finally, Patient Square Capital LP purchased a new stake in Cullinan Therapeutics during the third quarter worth about $13,806,000. Institutional investors and hedge funds own 86.31% of the company's stock.

About Cullinan Therapeutics

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.