Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed Sells 12,529 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 12,529 shares of Cullinan Therapeutics stock in a transaction on Tuesday, February 25th. The stock was 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 directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. The trade was a 2.83 % 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 the SEC website.

Nadim Ahmed also recently made the following trade(s):

• On Tuesday, December 24th, Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $11.87, for a total transaction of $99,708.00.

Cullinan Therapeutics Stock Up 1.9 %

Shares of CGEM opened at $8.61 on Friday. The company has a market cap of $501.34 million, a price-to-earnings ratio of -3.03 and a beta of -0.16. The company has a 50 day moving average of $10.59 and a two-hundred day moving average of $14.00. Cullinan Therapeutics, Inc. has a twelve month low of $8.35 and a twelve month high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. On average, sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright upped their price objective on shares of 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 has an average rating of “Buy” and an average target price of $32.50.

Institutional Investors Weigh In On Cullinan Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CGEM. Braidwell LP increased its position in shares of Cullinan Therapeutics by 567.6% during the third quarter. Braidwell LP now owns 1,176,173 shares of the company’s stock worth $19,689,000 after purchasing an additional 1,000,000 shares in the last quarter. Boxer Capital Management LLC acquired a new position in shares of Cullinan Therapeutics during the 4th quarter worth $11,058,000. Orbimed Advisors LLC grew its position in shares of Cullinan Therapeutics by 81.5% in the fourth quarter. Orbimed Advisors LLC now owns 1,942,555 shares of the company’s stock valued at $23,660,000 after purchasing an additional 872,500 shares during the last quarter. Lynx1 Capital Management LP raised its holdings in shares of Cullinan Therapeutics by 206.2% in the fourth quarter. Lynx1 Capital Management LP now owns 1,257,795 shares of the company’s stock worth $15,320,000 after acquiring an additional 846,965 shares during the last quarter. Finally, Patient Square Capital LP purchased a new position in Cullinan Therapeutics in the 3rd quarter valued at about $13,806,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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.