Cullinan Therapeutics (NASDAQ:CGEM) Trading Down 3.2% – What’s Next?

by · The Cerbat Gem

Cullinan Therapeutics, Inc. (NASDAQ:CGEM – Get Free Report) shares were down 3.2% during trading on Friday . The company traded as low as $16.80 and last traded at $16.81. Approximately 173,637 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 669,639 shares. The stock had previously closed at $17.37.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CGEM. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Cullinan Therapeutics in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $32.00.

Check Out Our Latest Stock Report on Cullinan Therapeutics

Cullinan Therapeutics Stock Performance

The stock has a 50 day moving average of $17.35 and a two-hundred day moving average of $19.21. The stock has a market cap of $963.06 million, a PE ratio of -5.50 and a beta of -0.13.

Cullinan Therapeutics (NASDAQ:CGEM – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.02). Analysts expect that Cullinan Therapeutics, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $18.09, for a total transaction of $144,720.00. Following the completion of the sale, the insider now directly owns 115,942 shares in the company, valued at approximately $2,097,390.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.07% of the company’s stock.

Institutional Investors Weigh In On Cullinan Therapeutics

Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its holdings in shares of Cullinan Therapeutics by 31.0% during the first quarter. Ameritas Investment Partners Inc. now owns 2,599 shares of the company’s stock worth $44,000 after acquiring an additional 615 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cullinan Therapeutics by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,842 shares of the company’s stock valued at $390,000 after buying an additional 820 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cullinan Therapeutics by 22.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,269 shares of the company’s stock valued at $294,000 after buying an additional 3,134 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cullinan Therapeutics by 73.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after buying an additional 3,758 shares during the last quarter. Finally, Profund Advisors LLC raised its position in Cullinan Therapeutics by 26.8% during the second quarter. Profund Advisors LLC now owns 19,352 shares of the company’s stock valued at $337,000 after acquiring an additional 4,089 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

About Cullinan Therapeutics

(Get Free Report)

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.

Featured Articles