Cullinan Therapeutics (NASDAQ:CGEM) Issues Earnings Results, Beats Estimates By $0.10 EPS

Cullinan Therapeutics (NASDAQ:CGEM) issued its quarterly earnings results on Tuesday. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.10, FiscalAI reports.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ CGEM traded down $0.20 during mid-day trading on Tuesday, reaching $11.53. The company had a trading volume of 163,101 shares, compared to its average volume of 897,101. Cullinan Therapeutics has a one year low of $7.25 and a one year high of $23.19. The firm has a market cap of $741.75 million, a price-to-earnings ratio of -3.72 and a beta of -0.03. The business’s 50-day simple moving average is $16.77 and its 200 day simple moving average is $15.83.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CGEM. Wedbush lifted their price target on Cullinan Therapeutics from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, October 2nd. BTIG Research upped their price objective on Cullinan Therapeutics from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cullinan Therapeutics in a research report on Friday, October 2nd. Finally, Wall Street Zen downgraded Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.86.

Insider Activity at Cullinan Therapeutics

In other Cullinan Therapeutics news, insider Jennifer Michaelson sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $20.26, for a total transaction of $607,800.00. Following the completion of the transaction, the insider directly owned 162,844 shares in the company, valued at $3,299,219.44. The trade was a 15.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 42,000 shares of company stock valued at $829,800. 8.60% of the stock is currently owned by insiders.

About Cullinan Therapeutics

Cullinan Therapeutics, Inc is a clinical-stage biopharmaceutical company developing treatments for cancer and autoimmune diseases. The company advances a pipeline of investigational medicines, including antibody-based therapies and T-cell engagers designed to direct immune responses against disease-related cells.

Its programs include CLN-619, an antibody being studied for solid tumors; CLN-049, a T-cell engager targeting FLT3 for acute myeloid leukemia; and CLN-978, a CD19-targeting T-cell engager being developed for B-cell-mediated autoimmune diseases.