Insider Selling: Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells 4,895 Shares of Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jeffrey Alan Jones sold 4,895 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the transaction, the insider now owns 174,164 shares of the company’s stock, valued at approximately $1,485,618.92. The trade was a 2.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Cullinan Therapeutics Price Performance

NASDAQ CGEM opened at $8.61 on Friday. The firm’s fifty day moving average price is $10.59 and its 200 day moving average price is $14.00. Cullinan Therapeutics, Inc. has a 12 month low of $8.35 and a 12 month high of $30.19. The company has a market capitalization of $501.34 million, a price-to-earnings ratio of -3.03 and a beta of -0.16.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.02. As a group, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cullinan Therapeutics by 29.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,792 shares of the company’s stock valued at $1,118,000 after buying an additional 20,881 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Cullinan Therapeutics in the 4th quarter valued at $2,038,000. Two Sigma Advisers LP raised its position in Cullinan Therapeutics by 22.3% in the 4th quarter. Two Sigma Advisers LP now owns 21,900 shares of the company’s stock valued at $267,000 after purchasing an additional 4,000 shares during the last quarter. Two Sigma Investments LP boosted its stake in Cullinan Therapeutics by 83.9% during the 4th quarter. Two Sigma Investments LP now owns 42,205 shares of the company’s stock worth $514,000 after purchasing an additional 19,261 shares during the period. Finally, Tema Etfs LLC acquired a new stake in Cullinan Therapeutics during the 4th quarter worth $346,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lifted their price target on Cullinan Therapeutics from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.50.

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.