Cullinan Therapeutics (CGEM) to Release Earnings on Thursday

Cullinan Therapeutics (NASDAQ:CGEM) is expected to be issuing its quarterly earnings data before the market opens on Thursday, March 13th. Analysts expect the company to announce earnings of ($0.83) per share for the quarter.

Cullinan Therapeutics (NASDAQ:CGEM) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. On average, analysts expect Cullinan Therapeutics to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cullinan Therapeutics Stock Performance

NASDAQ:CGEM opened at $8.67 on Wednesday. The company has a fifty day moving average of $9.99 and a two-hundred day moving average of $13.46. The stock has a market capitalization of $507.31 million, a PE ratio of -3.05 and a beta of -0.12. Cullinan Therapeutics has a fifty-two week low of $7.90 and a fifty-two week high of $30.19.

Insiders Place Their Bets

In other news, insider Jeffrey Alan Jones sold 4,895 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $41,754.35. Following the completion of the transaction, the insider now owns 174,164 shares of the company’s stock, valued at approximately $1,485,618.92. This trade represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $11.87, for a total transaction of $99,708.00. Following the completion of the transaction, the chief executive officer now owns 263,150 shares of the company’s stock, valued at $3,123,590.50. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,006 shares of company stock valued at $395,604 over the last 90 days. 6.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CGEM shares. HC Wainwright restated a “buy” rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research report on Friday, February 28th. Morgan Stanley restated an “overweight” rating and set a $35.00 price objective (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.86.

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.