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

by · The Markets Daily

Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) insider Jeffrey Alan Jones sold 4,632 shares of the company’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 $44,791.44. Following the sale, the insider directly owned 169,532 shares of the company’s stock, valued at approximately $1,639,374.44. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cullinan Therapeutics Price Performance

NASDAQ:CGEM opened at $9.68 on Friday. The business’s 50-day moving average is $9.35 and its two-hundred day moving average is $8.12. The firm has a market capitalization of $571.89 million, a PE ratio of -2.92 and a beta of -0.10. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $13.33.

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last issued its earnings results 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. Equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CGEM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Monday, December 8th. Zacks Research raised shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. HC Wainwright lifted their price target on shares of Cullinan Therapeutics from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. BTIG Research boosted their price objective 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, New Street Research set a $26.00 price objective on shares of Cullinan Therapeutics in a research report on Thursday, November 20th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cullinan Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $28.29.

Get Our Latest Stock Analysis on Cullinan Therapeutics

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Trexquant Investment LP bought a new stake in Cullinan Therapeutics in the first quarter valued at about $518,000. Wellington Management Group LLP lifted its holdings in Cullinan Therapeutics by 21.1% during the 1st quarter. Wellington Management Group LLP now owns 161,057 shares of the company’s stock worth $1,219,000 after buying an additional 28,081 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Cullinan Therapeutics in the 1st quarter worth approximately $222,000. Rhumbline Advisers increased its holdings in shares of Cullinan Therapeutics by 4.6% in the 1st quarter. Rhumbline Advisers now owns 71,338 shares of the company’s stock valued at $540,000 after acquiring an additional 3,130 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at approximately $84,000. Institutional investors own 86.31% of the company’s stock.

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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