Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Sells $106,872.37 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 12,529 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the transaction, the chief executive officer now owns 430,621 shares of the company’s stock, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

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

Cullinan Therapeutics Price Performance

CGEM stock opened at $8.49 on Friday. The company has a market cap of $494.36 million, a price-to-earnings ratio of -2.99 and a beta of -0.16. Cullinan Therapeutics, Inc. has a 12 month low of $8.29 and a 12 month high of $30.19. The company has a fifty day moving average price of $10.53 and a 200 day moving average price of $13.94.

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

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a research report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.50.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of large investors have recently bought and sold shares of CGEM. Braidwell LP raised its position in Cullinan Therapeutics by 567.6% during the 3rd quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock worth $19,689,000 after buying an additional 1,000,000 shares during the last quarter. Boxer Capital Management LLC purchased a new position in Cullinan Therapeutics during the 4th quarter worth $11,058,000. Orbimed Advisors LLC raised its position in Cullinan Therapeutics by 81.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company’s stock worth $23,660,000 after buying an additional 872,500 shares during the last quarter. Lynx1 Capital Management LP raised its position in Cullinan Therapeutics by 206.2% during the 4th quarter. Lynx1 Capital Management LP now owns 1,257,795 shares of the company’s stock worth $15,320,000 after buying an additional 846,965 shares during the last quarter. Finally, Patient Square Capital LP purchased a new position in Cullinan Therapeutics during the 3rd quarter worth $13,806,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

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.