Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed Sells 12,529 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 12,529 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $106,872.37. Following the transaction, the chief executive officer now owns 430,621 shares in the company, valued at $3,673,197.13. This represents a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nadim Ahmed also recently made the following trade(s):

• On Tuesday, December 24th, Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $11.87, for a total transaction of $99,708.00.

Cullinan Therapeutics Stock Performance

NASDAQ:CGEM traded up $0.16 during mid-day trading on Thursday, hitting $8.61. 385,149 shares of the stock were exchanged, compared to its average volume of 460,367. The firm’s 50-day simple moving average is $10.64 and its 200 day simple moving average is $14.03. The stock has a market capitalization of $501.34 million, a price-to-earnings ratio of -3.03 and a beta of -0.16. Cullinan Therapeutics, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings results 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. On average, analysts predict that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Cullinan Therapeutics

A number of institutional investors have recently modified their holdings of the business. Amalgamated Bank boosted its stake in Cullinan Therapeutics by 97.3% in the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after buying an additional 872 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Cullinan Therapeutics by 67.0% in the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock worth $46,000 after acquiring an additional 1,525 shares during the last quarter. Virtus ETF Advisers LLC boosted its stake in shares of Cullinan Therapeutics by 37.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock valued at $71,000 after purchasing an additional 1,600 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at approximately $77,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Cullinan Therapeutics during the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

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.