Insider Selling: Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Sells 12,529 Shares of Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 12,529 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $106,872.37. Following the transaction, the chief executive officer now owns 430,621 shares in the company, valued at $3,673,197.13. This trade represents a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nadim Ahmed also recently made the following trade(s):

• On Tuesday, December 24th, Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $11.87, for a total value of $99,708.00.

Cullinan Therapeutics Price Performance

Shares of NASDAQ CGEM traded up $0.16 during midday trading on Thursday, reaching $8.61. 385,149 shares of the stock traded hands, compared to its average volume of 460,367. The company’s 50 day moving average is $10.64 and its 200 day moving average is $14.03. Cullinan Therapeutics, Inc. has a one year low of $8.35 and a one year high of $30.19. The stock has a market capitalization of $501.34 million, a PE ratio of -3.03 and a beta of -0.16.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. As a group, equities analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Institutional Trading of Cullinan Therapeutics

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised 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 in the last quarter. Federated Hermes Inc. raised its position in shares of Cullinan Therapeutics by 67.0% in the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock valued at $46,000 after buying an additional 1,525 shares during the last quarter. Virtus ETF Advisers LLC lifted its position in Cullinan Therapeutics by 37.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock worth $71,000 after buying an additional 1,600 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Cullinan Therapeutics during the fourth quarter worth about $77,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Cullinan Therapeutics in the fourth quarter valued at $83,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright lifted their price target on Cullinan Therapeutics from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $32.50.

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.