Cullinan Therapeutics (NASDAQ:CGEM) Issues Earnings Results, Beats Estimates By $0.02 EPS

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

Cullinan Therapeutics Trading Up 2.0 %

Shares of Cullinan Therapeutics stock traded up $0.17 on Thursday, reaching $8.62. 276,907 shares of the company were exchanged, compared to its average volume of 457,011. The company has a market capitalization of $501.98 million, a price-to-earnings ratio of -3.04 and a beta of -0.16. Cullinan Therapeutics has a one year low of $8.35 and a one year high of $30.19. The company has a 50-day moving average of $10.64 and a 200 day moving average of $14.03.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 3,489 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28. Following the transaction, the insider now owns 104,453 shares of the company’s stock, valued at $1,307,751.56. The trade was a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nadim Ahmed sold 8,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total value of $99,708.00. Following the completion of the sale, the chief executive officer now directly owns 263,150 shares of the company’s stock, valued at approximately $3,123,590.50. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,582 shares of company stock valued at $246,977. 6.07% of the stock is currently owned by corporate insiders.

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.