Cullinan Therapeutics (NASDAQ:CGEM) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Cullinan Therapeutics (NASDAQ:CGEM) issued its earnings results on Thursday. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02, Zacks reports.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM opened at $8.49 on Friday. Cullinan Therapeutics has a 1 year low of $8.29 and a 1 year high of $30.19. The firm has a market capitalization of $494.36 million, a price-to-earnings ratio of -2.99 and a beta of -0.16. The business’s 50 day moving average price is $10.53 and its 200-day moving average price is $13.94.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 8,400 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total value of $99,708.00. Following the completion of the sale, the chief executive officer now directly owns 263,150 shares of the company’s stock, valued at $3,123,590.50. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Alan Jones sold 4,895 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $41,754.35. Following the completion of the sale, the insider now directly owns 174,164 shares of the company’s stock, valued at $1,485,618.92. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,006 shares of company stock worth $395,604 in the last quarter. Corporate insiders own 6.07% 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.