Nadim Ahmed Sells 12,529 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 12,529 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 $106,872.37. Following the sale, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $11.87, for a total transaction of $99,708.00.

Cullinan Therapeutics Stock Down 1.4 %

NASDAQ CGEM opened at $8.49 on Friday. Cullinan Therapeutics, Inc. has a 52 week low of $8.29 and a 52 week high of $30.19. The stock has a market capitalization of $494.36 million, a PE ratio of -2.99 and a beta of -0.16. The firm has a 50 day moving average of $10.53 and a two-hundred 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) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.02. On average, equities research analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGEM. Braidwell LP grew its holdings 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 acquiring an additional 1,000,000 shares in the last quarter. Boxer Capital Management LLC acquired a new position in shares of Cullinan Therapeutics in the 4th quarter valued at $11,058,000. Orbimed Advisors LLC boosted its holdings in shares of Cullinan Therapeutics by 81.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company’s stock valued at $23,660,000 after buying an additional 872,500 shares in the last quarter. Lynx1 Capital Management LP boosted its holdings in shares of Cullinan Therapeutics by 206.2% in the 4th quarter. Lynx1 Capital Management LP now owns 1,257,795 shares of the company’s stock valued at $15,320,000 after buying an additional 846,965 shares in the last quarter. Finally, Patient Square Capital LP acquired a new position in shares of Cullinan Therapeutics in the 3rd quarter valued at $13,806,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of Cullinan Therapeutics in a research note on Friday. Seven investment 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 a consensus 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.