Cullinan Therapeutics (CGEM) to Release Earnings on Thursday

Cullinan Therapeutics (NASDAQ:CGEM) is projected to issue its quarterly earnings data before the market opens on Thursday, March 13th. Analysts expect the company to announce earnings of ($0.83) per share for the quarter.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. On average, analysts expect Cullinan Therapeutics to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock opened at $8.67 on Wednesday. The stock has a market cap of $507.31 million, a price-to-earnings ratio of -3.05 and a beta of -0.12. Cullinan Therapeutics has a 1 year low of $7.90 and a 1 year high of $30.19. The firm has a 50-day moving average of $9.99 and a two-hundred day moving average of $13.46.

Insider Buying and Selling

In other Cullinan Therapeutics news, CEO Nadim Ahmed sold 8,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $11.87, for a total transaction of $99,708.00. Following the transaction, the chief executive officer now owns 263,150 shares in the company, valued at approximately $3,123,590.50. This represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Michaelson sold 4,693 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $11.41, for a total transaction of $53,547.13. Following the transaction, the insider now owns 99,760 shares in the company, valued at $1,138,261.60. The trade was a 4.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,006 shares of company stock worth $395,604 in the last 90 days. 6.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CGEM shares. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a research report on Friday, February 28th. Morgan Stanley restated an “overweight” rating and issued a $35.00 price target (down previously from $38.00) on shares of Cullinan Therapeutics in a report on Friday, March 7th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $32.86.

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.