Cullinan Therapeutics (CGEM) to Release Quarterly Earnings on Thursday

Cullinan Therapeutics (NASDAQ:CGEM) is expected to be announcing its earnings results 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 data on Thursday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating 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 Stock Performance

NASDAQ:CGEM opened at $8.43 on Thursday. Cullinan Therapeutics has a 52-week low of $7.90 and a 52-week high of $30.19. The firm has a market cap of $490.86 million, a price-to-earnings ratio of -2.97 and a beta of -0.16. The business’s fifty day moving average is $10.29 and its 200 day moving average is $13.75.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of Cullinan Therapeutics in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Cullinan Therapeutics currently has an average rating of “Buy” and a consensus price target of $32.50.

Insiders Place Their Bets

In other news, insider Jennifer Michaelson sold 4,693 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $11.41, for a total transaction of $53,547.13. Following the transaction, the insider now directly owns 99,760 shares in the company, valued at approximately $1,138,261.60. This represents a 4.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Alan Jones sold 4,895 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $8.53, for a total value of $41,754.35. Following the transaction, the insider now owns 174,164 shares in the company, valued at $1,485,618.92. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,006 shares of company stock worth $395,604 in the last ninety days. 6.07% of the stock is currently owned by insiders.

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.