Cullinan Therapeutics (NASDAQ:CGEM) Hits New 52-Week Low – Should You Sell?

Cullinan Therapeutics, Inc. (NASDAQ:CGEMGet Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $9.50 and last traded at $10.01, with a volume of 873022 shares changing hands. The stock had previously closed at $11.04.

Analysts Set New Price Targets

CGEM has been the topic of several recent research reports. UBS Group assumed coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research report on Wednesday, September 18th. Finally, HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cullinan Therapeutics currently has an average rating of “Buy” and an average target price of $31.67.

Read Our Latest Report on Cullinan Therapeutics

Cullinan Therapeutics Price Performance

The firm has a market capitalization of $582.86 million, a price-to-earnings ratio of -3.52 and a beta of -0.14. The stock has a fifty day moving average of $12.77 and a two-hundred day moving average of $15.72.

Cullinan Therapeutics (NASDAQ:CGEMGet Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. On average, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

Insider Buying and Selling at Cullinan Therapeutics

In related news, insider Jennifer Michaelson sold 4,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $12.51, for a total value of $50,040.00. Following the transaction, the insider now owns 95,760 shares in the company, valued at $1,197,957.60. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nadim Ahmed sold 8,400 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total transaction of $99,708.00. Following the sale, the chief executive officer now directly owns 263,150 shares in the company, valued at $3,123,590.50. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,582 shares of company stock valued at $372,097. 6.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank grew its position in shares of Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after buying an additional 872 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cullinan Therapeutics by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,911 shares of the company’s stock worth $1,187,000 after acquiring an additional 2,377 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Cullinan Therapeutics by 22.2% in the third quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock worth $358,000 after purchasing an additional 3,881 shares during the period. Profund Advisors LLC increased its stake in Cullinan Therapeutics by 26.8% in the second quarter. Profund Advisors LLC now owns 19,352 shares of the company’s stock valued at $337,000 after purchasing an additional 4,089 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Cullinan Therapeutics by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock valued at $187,000 after purchasing an additional 4,380 shares during the period. 86.31% of the stock is currently owned by 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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