Jeffrey Alan Jones Sells 4,895 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jeffrey Alan Jones sold 4,895 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the sale, the insider now directly owns 174,164 shares of the company’s stock, valued at $1,485,618.92. This represents a 2.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cullinan Therapeutics Trading Down 1.4 %

Shares of NASDAQ CGEM opened at $8.49 on Friday. Cullinan Therapeutics, Inc. has a 12-month low of $8.29 and a 12-month high of $30.19. The stock has a market cap of $494.36 million, a PE ratio of -2.99 and a beta of -0.16. The company has a 50-day moving average of $10.53 and a 200 day moving average of $13.94.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02. On average, sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Trading of Cullinan Therapeutics

Several hedge funds have recently made changes to their positions in CGEM. Assenagon Asset Management S.A. grew its stake in shares of Cullinan Therapeutics by 18.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 135,036 shares of the company’s stock valued at $2,261,000 after buying an additional 20,841 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Cullinan Therapeutics by 64.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock valued at $187,000 after buying an additional 4,380 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Cullinan Therapeutics by 22.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,362 shares of the company’s stock valued at $358,000 after buying an additional 3,881 shares during the period. Amalgamated Bank grew its stake in shares of Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after buying an additional 872 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Cullinan Therapeutics by 900.7% in the 3rd quarter. Quest Partners LLC now owns 20,404 shares of the company’s stock worth $342,000 after acquiring an additional 18,365 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research note on Friday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of “Buy” and an average price target of $32.50.

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.