Cullinan Therapeutics (NASDAQ:CGEM) Issues Earnings Results

Cullinan Therapeutics (NASDAQ:CGEM) released its earnings results on Thursday. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02, Zacks reports.

Cullinan Therapeutics Stock Down 1.4 %

NASDAQ CGEM opened at $8.49 on Friday. The company has a fifty day moving average of $10.53 and a two-hundred day moving average of $13.94. The firm has a market capitalization of $494.36 million, a price-to-earnings ratio of -2.99 and a beta of -0.16. Cullinan Therapeutics has a 52 week low of $8.29 and a 52 week high of $30.19.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Cullinan Therapeutics in a research report on Friday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $32.50.

Insiders Place Their Bets

In other news, insider Jennifer Michaelson sold 4,693 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $11.41, for a total transaction of $53,547.13. Following the completion of the sale, the insider now directly owns 99,760 shares of the company’s stock, valued at approximately $1,138,261.60. The trade was a 4.49 % 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 this link. Also, 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 transaction of $41,754.35. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold 38,006 shares of company stock valued at $395,604 over the last three months. 6.07% of the stock is owned by company insiders.

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.