Key Points
- CEO Nadim Ahmed sold 9,922 shares on December 23 at an average price of $10.01 for a total of $99,319.22, reducing his stake by 2.30% to 420,699 shares (≈$4.21M) according to an SEC filing.
- Cullinan stock opened at $10.14 and was trading down about 2.2%; the company has a market cap of $599M, a negative PE of -3.06, a 1-year range of $5.68–$13.33, and reported quarterly EPS of -$0.77 which beat estimates by $0.18.
- Research sentiment is largely positive with six Buys, one Hold and one Sell and a consensus target price of $28.29, as several firms raised targets into the mid-$20s to high-$30s.
Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) CEO Nadim Ahmed sold 9,922 shares of the firm's stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $10.01, for a total transaction of $99,319.22. Following the completion of the transaction, the chief executive officer directly owned 420,699 shares in the company, valued at approximately $4,211,196.99. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Cullinan Therapeutics Trading Down 2.2%
Shares of Cullinan Therapeutics stock opened at $10.14 on Tuesday. The company has a market cap of $599.07 million, a PE ratio of -3.06 and a beta of -0.11. The company has a 50 day moving average of $9.60 and a 200-day moving average of $8.17. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $13.33.
Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.95) by $0.18. Research analysts forecast 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 institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Cullinan Therapeutics during the third quarter valued at $62,000. Tower Research Capital LLC TRC increased its holdings in 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 purchasing an additional 2,523 shares during the period. Inscription Capital LLC bought a new position in Cullinan Therapeutics during the 3rd quarter worth $67,000. Compass Ion Advisors LLC acquired a new position in Cullinan Therapeutics during the 3rd quarter worth about $82,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at about $84,000. 86.31% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on CGEM. Wedbush lifted their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an "outperform" rating in a research report on Tuesday, December 9th. New Street Research set a $26.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. BTIG Research upped their price objective on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Monday, November 24th. Wall Street Zen upgraded shares of Cullinan Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cullinan Therapeutics in a research note on Monday, December 22nd. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.29.
View Our Latest Stock Analysis on Cullinan Therapeutics
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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