Cullinan Therapeutics (NASDAQ:CGEM) CEO Nadim Ahmed Sells 13,515 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) CEO Nadim Ahmed sold 13,515 shares of Cullinan Therapeutics stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $14.47, for a total transaction of $195,562.05. Following the sale, the chief executive officer directly owned 390,803 shares of the company’s stock, valued at approximately $5,654,919.41. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, February 20th, Nadim Ahmed sold 16,381 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $13.62, for a total value of $223,109.22.
• On Tuesday, December 23rd, Nadim Ahmed sold 9,922 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $10.01, for a total value of $99,319.22.

Cullinan Therapeutics Stock Performance

Shares of NASDAQ:CGEM traded up $0.09 on Wednesday, hitting $14.36. 858,348 shares of the company’s stock were exchanged, compared to its average volume of 730,212. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $14.56. The company has a market capitalization of $848.33 million, a PE ratio of -4.34 and a beta of -0.09. The firm’s 50-day moving average is $11.41 and its 200 day moving average is $9.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cullinan Therapeutics by 62.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after buying an additional 1,036 shares during the last quarter. CWM LLC grew its holdings in shares of Cullinan Therapeutics by 51.5% during the fourth quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after buying an additional 1,318 shares during the last quarter. Signaturefd LLC increased its position in Cullinan Therapeutics by 689.7% in the 4th quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after acquiring an additional 3,607 shares during the period. SG Americas Securities LLC purchased a new stake in Cullinan Therapeutics during the 3rd quarter valued at approximately $62,000. Finally, Tower Research Capital LLC TRC lifted its position in Cullinan Therapeutics by 44.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock worth $62,000 after acquiring an additional 2,523 shares during the period. 86.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CGEM. HC Wainwright boosted their price objective on shares of Cullinan Therapeutics from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Guggenheim started coverage on shares of Cullinan Therapeutics in a research note on Monday, February 2nd. They set a “buy” rating and a $30.00 price target on the stock. Wall Street Zen downgraded shares of Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Zacks Research lowered Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Wedbush boosted their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.33.

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.