Insider Selling: Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Sells $106,872.37 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total transaction of $106,872.37. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 transaction of $99,708.00.

Cullinan Therapeutics Price Performance

CGEM stock opened at $8.49 on Friday. The company has a 50 day moving average price of $10.53 and a 200 day moving average price of $13.92. Cullinan Therapeutics, Inc. has a fifty-two week low of $8.29 and a fifty-two 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.

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 the consensus estimate of ($0.75) by $0.02. As a group, equities analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated 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, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $32.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank raised its position in Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after purchasing an additional 872 shares during the last quarter. Federated Hermes Inc. raised its position 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 acquiring an additional 1,525 shares during the last quarter. Virtus ETF Advisers LLC raised its position in shares of Cullinan Therapeutics by 37.8% during the 4th 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 last quarter. Aquatic Capital Management LLC bought a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at $77,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Cullinan Therapeutics during the 4th quarter valued at $83,000. Institutional investors own 86.31% of the company’s stock.

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.