Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed Sells 8,400 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total transaction of $99,708.00. Following the completion of the transaction, the chief executive officer now directly owns 263,150 shares of the company’s stock, valued at $3,123,590.50. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cullinan Therapeutics Stock Down 6.8 %

CGEM opened at $12.02 on Monday. The company has a market cap of $699.90 million, a PE ratio of -4.23 and a beta of -0.18. Cullinan Therapeutics, Inc. has a twelve month low of $9.91 and a twelve month high of $30.19. The company has a 50-day moving average price of $13.83 and a 200 day moving average price of $16.28.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. As a group, sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group started coverage on Cullinan Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $30.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Finally, Wedbush restated an “outperform” rating and issued a $36.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $31.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in shares of Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after buying an additional 872 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cullinan Therapeutics by 73.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after acquiring an additional 3,758 shares in the last quarter. Arizona State Retirement System acquired a new stake in Cullinan Therapeutics in the 2nd quarter valued at about $182,000. Squarepoint Ops LLC purchased a new position in Cullinan Therapeutics in the 2nd quarter worth approximately $186,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 worth $187,000 after purchasing an additional 4,380 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.