Key Points
- Insider sale: Director Jennifer Michaelson sold 4,000 shares on Nov. 24 at an average price of $12.30 (total $49,200), trimming her stake by 2.82% to 138,004 shares; the transaction was disclosed in an SEC filing.
- Share performance & valuation: Shares fell about 8.8%, opening at $11.79 with a 52-week range of $5.68–$13.78, a market cap near $696.6M and a negative P/E of -3.56.
- Operational and analyst backdrop: Cullinan reported an EPS beat of ($0.77) vs. ($0.95) last quarter, and analysts hold a consensus "Moderate Buy" with an average price target of $27 (individual targets rising as high as $38).
Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $12.30, for a total value of $49,200.00. Following the completion of the sale, the insider owned 138,004 shares of the company's stock, valued at $1,697,449.20. The trade was a 2.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Cullinan Therapeutics Stock Down 8.8%
NASDAQ:CGEM opened at $11.79 on Wednesday. The business's 50-day simple moving average is $7.58 and its two-hundred day simple moving average is $7.72. Cullinan Therapeutics, Inc. has a 52 week low of $5.68 and a 52 week high of $13.78. The stock has a market cap of $696.55 million, a PE ratio of -3.56 and a beta of -0.07.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.18. Sell-side analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. BTIG Research increased their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the company a "buy" rating in a report on Monday. New Street Research set a $26.00 target price on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday. Wedbush reissued an "outperform" rating and set a $25.00 price objective on shares of Cullinan Therapeutics in a report on Thursday, November 20th. Finally, Zacks Research upgraded Cullinan Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $27.00.
View Our Latest Research Report on Cullinan Therapeutics
Institutional Investors Weigh In On Cullinan Therapeutics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in shares of Cullinan Therapeutics in the 1st quarter worth approximately $34,000. SG Americas Securities LLC bought a new position in Cullinan Therapeutics during the third quarter valued at $62,000. Tower Research Capital LLC TRC raised its stake in shares of Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company's stock valued at $62,000 after acquiring an additional 2,523 shares during the period. Inscription Capital LLC bought a new stake in shares of Cullinan Therapeutics in the 3rd quarter worth about $67,000. Finally, Compass Ion Advisors LLC purchased a new position in shares of Cullinan Therapeutics during the 3rd quarter worth about $82,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.
Cullinan Therapeutics Company Profile
(
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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