Cullinan Therapeutics (NASDAQ:CGEM) CFO Sells $59,900.76 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CFO Mary Kay Fenton sold 4,398 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $13.62, for a total transaction of $59,900.76. Following the transaction, the chief financial officer directly owned 126,380 shares in the company, valued at $1,721,295.60. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Cullinan Therapeutics Stock Up 2.5%

Cullinan Therapeutics stock traded up $0.34 during mid-day trading on Monday, reaching $13.99. The company had a trading volume of 627,420 shares, compared to its average volume of 719,629. Cullinan Therapeutics, Inc. has a 52 week low of $5.68 and a 52 week high of $14.51. The company has a 50 day moving average of $11.26 and a 200-day moving average of $9.17. The firm has a market cap of $826.53 million, a price-to-earnings ratio of -4.23 and a beta of -0.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Guggenheim initiated coverage on Cullinan Therapeutics in a research report on Monday, February 2nd. They set a “buy” rating and a $30.00 target price on the stock. Wedbush raised their price objective on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Citigroup assumed coverage on Cullinan Therapeutics in a report on Tuesday, February 17th. They set a “buy” rating and a $33.00 price objective on the stock. Wall Street Zen lowered Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cullinan Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $29.33.

Hedge Funds Weigh In On Cullinan Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. grew its position in Cullinan Therapeutics by 27.4% in the fourth quarter. Invesco Ltd. now owns 130,323 shares of the company’s stock valued at $1,349,000 after acquiring an additional 28,011 shares during the period. Virtus Investment Advisers LLC boosted its stake in shares of Cullinan Therapeutics by 75.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 22,318 shares of the company’s stock valued at $231,000 after purchasing an additional 9,604 shares in the last quarter. Susquehanna Portfolio Strategies LLC boosted its stake in shares of Cullinan Therapeutics by 87.8% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 233,842 shares of the company’s stock valued at $2,420,000 after purchasing an additional 109,311 shares in the last quarter. Elmind Capital LP bought a new stake in shares of Cullinan Therapeutics in the 4th quarter worth about $3,208,000. Finally, Engineers Gate Manager LP increased its position in shares of Cullinan Therapeutics by 37.7% during the 4th quarter. Engineers Gate Manager LP now owns 69,343 shares of the company’s stock worth $718,000 after purchasing an additional 18,980 shares in the last quarter. Institutional investors own 86.31% 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.