Cullinan Therapeutics (NASDAQ:CGEM) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Cullinan Therapeutics (NASDAQ:CGEM) issued its quarterly earnings data on Tuesday. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.10, FiscalAI reports.

Cullinan Therapeutics Price Performance

Shares of CGEM stock traded down $0.20 during trading hours on Tuesday, reaching $11.53. 163,101 shares of the company were exchanged, compared to its average volume of 897,101. Cullinan Therapeutics has a fifty-two week low of $7.25 and a fifty-two week high of $23.19. The stock’s fifty day moving average is $16.77 and its two-hundred day moving average is $15.83. The company has a market cap of $741.75 million, a price-to-earnings ratio of -3.72 and a beta of -0.03.

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $12.36, for a total transaction of $49,440.00. Following the transaction, the insider directly owned 158,649 shares in the company, valued at approximately $1,960,901.64. This represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 42,000 shares of company stock valued at $829,800. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CGEM shares. Wall Street Zen lowered shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. TD Cowen upgraded shares of Cullinan Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Cullinan Therapeutics in a research note on Friday, October 2nd. BTIG Research boosted their price objective on shares of Cullinan Therapeutics from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Finally, Wedbush upped their target price on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.86.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company developing treatments for cancer and autoimmune diseases. The company advances a pipeline of investigational medicines, including antibody-based therapies and T-cell engagers designed to direct immune responses against disease-related cells.

Its programs include CLN-619, an antibody being studied for solid tumors; CLN-049, a T-cell engager targeting FLT3 for acute myeloid leukemia; and CLN-978, a CD19-targeting T-cell engager being developed for B-cell-mediated autoimmune diseases.