Cullinan Therapeutics (NASDAQ:CGEM) Announces Earnings Results

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.02, Zacks reports.

Cullinan Therapeutics Trading Down 5.8 %

Shares of CGEM stock traded down $0.49 during trading hours on Monday, reaching $8.00. 476,667 shares of the company's stock were exchanged, compared to its average volume of 467,409. Cullinan Therapeutics has a 1 year low of $7.95 and a 1 year high of $30.19. The stock has a market cap of $465.82 million, a PE ratio of -2.82 and a beta of -0.16. The stock's fifty day moving average price is $10.45 and its two-hundred day moving average price is $13.85.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and set a $33.00 price target on shares of Cullinan Therapeutics in a research report on Friday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics has an average rating of "Buy" and a consensus target price of $32.50.

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 3,489 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28. Following the sale, the insider now owns 104,453 shares in the company, valued at approximately $1,307,751.56. The trade was a 3.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nadim Ahmed sold 8,400 shares of the firm's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total value of $99,708.00. Following the completion of the transaction, the chief executive officer now owns 263,150 shares of the company's stock, valued at approximately $3,123,590.50. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,006 shares of company stock valued at $395,604 in the last three months. 6.07% of the stock is owned by insiders.

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.