Insider Selling: Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells 4,895 Shares of Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the completion of the transaction, the insider now owns 174,164 shares in the company, valued at approximately $1,485,618.92. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cullinan Therapeutics Stock Performance

Shares of Cullinan Therapeutics stock opened at $8.49 on Friday. Cullinan Therapeutics, Inc. has a 1 year low of $8.29 and a 1 year high of $30.19. The company has a market capitalization of $494.36 million, a P/E ratio of -2.99 and a beta of -0.16. The company’s fifty day moving average is $10.53 and its two-hundred day moving average is $13.94.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings data 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. As a group, equities analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Institutional Trading of Cullinan Therapeutics

Several hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cullinan Therapeutics by 29.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,792 shares of the company’s stock worth $1,118,000 after acquiring an additional 20,881 shares during the period. Woodline Partners LP acquired a new stake in shares of Cullinan Therapeutics in the 4th quarter worth $2,038,000. Two Sigma Advisers LP lifted its stake in shares of Cullinan Therapeutics by 22.3% in the 4th quarter. Two Sigma Advisers LP now owns 21,900 shares of the company’s stock worth $267,000 after acquiring an additional 4,000 shares during the period. Two Sigma Investments LP lifted its stake in shares of Cullinan Therapeutics by 83.9% in the 4th quarter. Two Sigma Investments LP now owns 42,205 shares of the company’s stock worth $514,000 after acquiring an additional 19,261 shares during the period. Finally, Tema Etfs LLC acquired a new stake in shares of Cullinan Therapeutics in the 4th quarter worth $346,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Wall Street Analyst Weigh In

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

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.