Cullinan Therapeutics (NASDAQ:CGEM) Insider Jeffrey Alan Jones Sells 4,632 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jeffrey Alan Jones sold 4,632 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $9.67, for a total value of $44,791.44. Following the transaction, the insider directly owned 169,532 shares of the company’s stock, valued at $1,639,374.44. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Cullinan Therapeutics Stock Performance

Shares of CGEM traded down $0.30 during mid-day trading on Friday, reaching $9.68. The company had a trading volume of 1,862,750 shares, compared to its average volume of 658,545. The company has a market capitalization of $571.86 million, a price-to-earnings ratio of -2.92 and a beta of -0.10. The company’s 50 day simple moving average is $9.30 and its 200 day simple moving average is $8.11. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $13.33.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.18. As a group, equities analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Institutional Trading of Cullinan Therapeutics

Institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Cullinan Therapeutics during the 1st quarter worth approximately $34,000. Tower Research Capital LLC TRC increased its holdings in shares of Cullinan Therapeutics by 44.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after acquiring an additional 2,523 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Cullinan Therapeutics during the third quarter worth approximately $62,000. Y Intercept Hong Kong Ltd bought a new position in shares of Cullinan Therapeutics in the 2nd quarter worth $84,000. Finally, Inscription Capital LLC acquired a new stake in Cullinan Therapeutics in the 3rd quarter valued at $67,000. Institutional investors own 86.31% of the company’s stock.

Wall Street Analysts Forecast Growth

CGEM has been the subject of several research reports. HC Wainwright increased their target price on Cullinan Therapeutics from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 8th. BTIG Research boosted their target price on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, November 24th. Finally, Zacks Research raised shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.29.

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.