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

Cullinan Therapeutics (NASDAQ:CGEM) posted its quarterly earnings results on Thursday. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.02, Zacks reports.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock traded up $0.25 on Thursday, hitting $8.70. 243,210 shares of the company’s stock traded hands, compared to its average volume of 456,070. Cullinan Therapeutics has a one year low of $8.35 and a one year high of $30.19. The stock has a market capitalization of $506.58 million, a PE ratio of -3.06 and a beta of -0.16. The firm’s 50-day moving average price is $10.64 and its two-hundred day moving average price is $14.03.

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 report on Wednesday, January 29th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $32.50.

Insider Transactions at Cullinan Therapeutics

In other news, CEO Nadim Ahmed sold 8,400 shares of Cullinan Therapeutics 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 in the company, valued at approximately $3,123,590.50. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Michaelson sold 3,489 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total value of $43,682.28. Following the completion of the transaction, the insider now owns 104,453 shares in the company, valued at $1,307,751.56. The trade was a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,582 shares of company stock valued at $246,977 over the last quarter. Corporate insiders own 6.07% of the company’s stock.

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.