Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $12.18, but opened at $12.74. Cullinan Therapeutics shares last traded at $12.55, with a volume of 33,930 shares traded.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on CGEM shares. UBS Group started coverage on shares of Cullinan Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $30.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $28.00 price target on shares of Cullinan Therapeutics in a research report on Wednesday, October 16th. Finally, Wedbush restated an "outperform" rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $31.67.
Get Our Latest Stock Analysis on CGEM
Cullinan Therapeutics Trading Up 1.7 %
The stock's 50 day moving average price is $13.60 and its two-hundred day moving average price is $16.09. The firm has a market capitalization of $721.44 million, a PE ratio of -4.36 and a beta of -0.18.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released 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 expect that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current year.
Insider Buying and Selling at Cullinan Therapeutics
In other news, insider Jennifer Michaelson sold 8,000 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $15.64, for a total transaction of $125,120.00. Following the completion of the transaction, the insider now owns 107,942 shares of the company's stock, valued at $1,688,212.88. This represents a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nadim Ahmed sold 8,400 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total transaction of $99,708.00. Following the completion of the sale, the chief executive officer now directly owns 263,150 shares in the company, valued at $3,123,590.50. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,582 shares of company stock worth $322,057. Insiders own 6.07% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in CGEM. Amalgamated Bank grew its position in Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company's stock valued at $30,000 after acquiring an additional 872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cullinan Therapeutics by 73.3% during the 2nd 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 during the period. Arizona State Retirement System acquired a new stake in Cullinan Therapeutics during the 2nd quarter worth approximately $182,000. Squarepoint Ops LLC purchased a new position in Cullinan Therapeutics in the second quarter valued at approximately $186,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Cullinan Therapeutics by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company's stock valued at $187,000 after buying an additional 4,380 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.
About Cullinan Therapeutics
(
Get Free Report)
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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