Cullinan Therapeutics (NASDAQ:CGEM) Hits New 12-Month Low - Should You Sell?

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $8.90 and last traded at $8.86, with a volume of 15243 shares. The stock had previously closed at $9.03.

Analysts Set New Price Targets

Separately, HC Wainwright raised their target price on Cullinan Therapeutics from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $32.50.

Cullinan Therapeutics Stock Performance

The firm has a market cap of $501.34 million, a P/E ratio of -3.03 and a beta of -0.16. The firm has a 50 day simple moving average of $10.59 and a 200 day simple moving average of $14.00.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.02. Sell-side analysts predict that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Insider Activity

In other news, CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the sale, the chief executive officer now directly owns 430,621 shares of the company's stock, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock in a transaction on 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 directly owns 104,453 shares of the company's stock, valued at $1,307,751.56. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,006 shares of company stock worth $395,604. 6.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Cullinan Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank raised its position in Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company's stock worth $30,000 after purchasing an additional 872 shares during the period. Federated Hermes Inc. raised its position in Cullinan Therapeutics by 67.0% in the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company's stock worth $46,000 after purchasing an additional 1,525 shares during the period. Virtus ETF Advisers LLC raised its position in Cullinan Therapeutics by 37.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company's stock worth $71,000 after purchasing an additional 1,600 shares during the period. Aquatic Capital Management LLC purchased a new position in Cullinan Therapeutics in the 4th quarter worth $77,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Cullinan Therapeutics in the 4th quarter worth $83,000. 86.31% of the stock is owned by institutional investors.

Cullinan Therapeutics Company Profile

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.