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

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

Cullinan Therapeutics Price Performance

Shares of CGEM stock traded down $0.18 during trading on Friday, reaching $8.43. The company had a trading volume of 138,301 shares, compared to its average volume of 451,399. The firm’s 50 day simple moving average is $10.59 and its two-hundred day simple moving average is $14.00. The company has a market capitalization of $490.92 million, a PE ratio of -2.97 and a beta of -0.16. Cullinan Therapeutics has a one year low of $8.30 and a one year high of $30.19.

Insiders Place Their Bets

In other Cullinan Therapeutics news, insider Jeffrey Alan Jones sold 4,895 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total value of $41,754.35. Following the transaction, the insider now directly owns 174,164 shares in the company, valued at approximately $1,485,618.92. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28. Following the sale, the insider now owns 104,453 shares of the company’s stock, valued at approximately $1,307,751.56. This represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,006 shares of company stock valued at $395,604 in the last three months. Company insiders own 6.07% of the company’s stock.

Analyst Upgrades and Downgrades

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