Insider Selling: Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells $41,754.35 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction dated 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 owns 174,164 shares in the company, valued at $1,485,618.92. The trade was a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock opened at $8.49 on Friday. The business has a 50 day simple moving average of $10.53 and a two-hundred day simple moving average of $13.92. Cullinan Therapeutics, Inc. has a 12 month low of $8.29 and a 12 month high of $30.19. The stock has a market capitalization of $494.36 million, a P/E ratio of -2.99 and a beta of -0.16.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. As a group, research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of hedge funds have recently made changes to their positions in CGEM. Amalgamated Bank increased its holdings in shares of Cullinan Therapeutics by 97.3% in the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after purchasing an additional 872 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Cullinan Therapeutics by 67.0% in the fourth 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 last quarter. Virtus ETF Advisers LLC increased its holdings 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 purchasing an additional 1,600 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at approximately $77,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Cullinan Therapeutics in the fourth quarter valued at approximately $83,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analyst Upgrades and Downgrades

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