Jeffrey Alan Jones Sells 4,895 Shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jeffrey Alan Jones sold 4,895 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $41,754.35. Following the transaction, the insider now owns 174,164 shares in the company, valued at approximately $1,485,618.92. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cullinan Therapeutics Price Performance

NASDAQ:CGEM traded up $0.16 during trading hours on Thursday, hitting $8.61. The stock had a trading volume of 385,149 shares, compared to its average volume of 460,367. Cullinan Therapeutics, Inc. has a one year low of $8.35 and a one year high of $30.19. The company has a 50 day simple moving average of $10.64 and a two-hundred day simple moving average of $14.03. The firm has a market capitalization of $501.34 million, a price-to-earnings ratio of -3.03 and a beta of -0.16.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02. Equities research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its holdings in shares of Cullinan Therapeutics by 97.3% during the 3rd 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. grew its holdings in Cullinan Therapeutics by 67.0% in the fourth quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock worth $46,000 after purchasing an additional 1,525 shares during the period. Virtus ETF Advisers LLC increased its holdings in shares of Cullinan Therapeutics by 37.8% during 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 in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Cullinan Therapeutics during the fourth quarter valued at approximately $77,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Cullinan Therapeutics during the fourth quarter valued at $83,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Analyst Ratings Changes

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

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.