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

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 12,529 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were 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 of the company’s stock, valued at $3,673,197.13. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Cullinan Therapeutics Trading Down 1.4 %

Shares of NASDAQ CGEM opened at $8.49 on Friday. The firm has a market cap of $494.36 million, a PE ratio of -2.99 and a beta of -0.16. Cullinan Therapeutics, Inc. has a 1-year low of $8.29 and a 1-year high of $30.19. The company has a fifty day moving average price of $10.53 and a 200 day moving average price of $13.92.

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

Hedge Funds Weigh In On Cullinan Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGEM. Amalgamated Bank boosted its stake in Cullinan Therapeutics by 97.3% in the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock worth $30,000 after purchasing an additional 872 shares during the period. Federated Hermes Inc. boosted its stake in shares of Cullinan Therapeutics by 67.0% during the 4th quarter. Federated Hermes Inc. now owns 3,802 shares of the company’s stock worth $46,000 after buying an additional 1,525 shares during the last quarter. Virtus ETF Advisers LLC boosted its stake in shares of Cullinan Therapeutics by 37.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,828 shares of the company’s stock worth $71,000 after buying an additional 1,600 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Cullinan Therapeutics during the 4th quarter worth about $77,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Cullinan Therapeutics during the 4th quarter worth about $83,000. 86.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of Cullinan Therapeutics in a report on Friday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.50.

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.