Nadim Ahmed Sells 9,922 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 9,922 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $10.01, for a total value of $99,319.22. Following the completion of the transaction, the chief executive officer directly owned 420,699 shares of the company’s stock, valued at approximately $4,211,196.99. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Cullinan Therapeutics Stock Performance

CGEM stock traded down $0.23 during trading on Monday, reaching $10.14. The company had a trading volume of 801,991 shares, compared to its average volume of 662,851. The company has a market cap of $599.07 million, a price-to-earnings ratio of -3.06 and a beta of -0.11. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $13.33. The firm has a 50-day simple moving average of $9.56 and a 200-day simple moving average of $8.16.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.18. Sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CGEM. SG Americas Securities LLC purchased a new stake in shares of Cullinan Therapeutics during the 3rd quarter worth about $62,000. Tower Research Capital LLC TRC grew its position in Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after acquiring an additional 2,523 shares during the last quarter. Inscription Capital LLC bought a new stake in shares of Cullinan Therapeutics during the third quarter worth approximately $67,000. Compass Ion Advisors LLC bought a new position in shares of Cullinan Therapeutics during the third quarter worth $82,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Cullinan Therapeutics during the second quarter worth $84,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CGEM. Zacks Research upgraded shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. New Street Research set a $26.00 price objective on Cullinan Therapeutics in a research note on Thursday, November 20th. Wedbush boosted their price objective on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research note on Monday, December 22nd. Finally, Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cullinan Therapeutics has an average rating of “Moderate Buy” and an average price target 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.