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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 12,529 shares of the stock in a transaction dated 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 owns 430,621 shares of the company’s stock, valued at $3,673,197.13. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a filing 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 shares were sold at an average price of $11.87, for a total value of $99,708.00.

Cullinan Therapeutics Trading Up 1.9 %

CGEM opened at $8.61 on Friday. The company’s 50 day moving average is $10.59 and its 200-day moving average is $14.00. The company has a market cap of $501.34 million, a P/E ratio of -3.03 and a beta of -0.16. Cullinan Therapeutics, Inc. has a 1-year low of $8.35 and a 1-year high of $30.19.

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their target price on Cullinan Therapeutics from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $32.50.

Institutional Trading of Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in shares of Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after buying an additional 872 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Cullinan Therapeutics by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,346 shares of the company’s stock worth $150,000 after purchasing an additional 1,195 shares during the period. Invesco Ltd. raised its holdings in Cullinan Therapeutics by 2.4% during the 4th quarter. Invesco Ltd. now owns 59,553 shares of the company’s stock valued at $725,000 after acquiring an additional 1,395 shares during the period. Federated Hermes Inc. raised its stake in shares of Cullinan Therapeutics by 67.0% during the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock valued at $46,000 after purchasing an additional 1,525 shares during the period. Finally, Virtus ETF Advisers LLC boosted its position in shares of Cullinan Therapeutics by 37.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock valued at $71,000 after acquiring an additional 1,600 shares during the period. 86.31% of the stock is owned by institutional investors.

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.