Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $33,651.60 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jacquelyn Sumer sold 3,480 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 transaction of $33,651.60. Following the transaction, the insider directly owned 135,432 shares of the company’s stock, valued at approximately $1,309,627.44. This represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cullinan Therapeutics Stock Performance

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

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.18. As a group, analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BTIG Research raised their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, November 24th. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Zacks Research upgraded shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. HC Wainwright upped their price objective on shares of Cullinan Therapeutics from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Finally, New Street Research set a $26.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.29.

Institutional Trading of Cullinan Therapeutics

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Cullinan Therapeutics by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,039,731 shares of the company’s stock worth $23,011,000 after purchasing an additional 103,504 shares in the last quarter. Nuveen LLC acquired a new stake in Cullinan Therapeutics during the first quarter valued at approximately $1,423,000. Russell Investments Group Ltd. bought a new stake in shares of Cullinan Therapeutics in the 1st quarter valued at approximately $222,000. American Century Companies Inc. raised its holdings in shares of Cullinan Therapeutics by 11.9% in the 1st quarter. American Century Companies Inc. now owns 112,670 shares of the company’s stock worth $853,000 after buying an additional 11,949 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of Cullinan Therapeutics by 411.5% in the 1st quarter. Algert Global LLC now owns 221,430 shares of the company’s stock worth $1,676,000 after buying an additional 178,138 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

About Cullinan Therapeutics

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.