Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $13,463.45 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 1,345 shares of Cullinan Therapeutics stock in a transaction on Friday, December 19th. The shares were sold at an average price of $10.01, for a total transaction of $13,463.45. Following the completion of the sale, the insider directly owned 132,635 shares in the company, valued at $1,327,676.35. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jennifer Michaelson also recently made the following trade(s):

• On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $9.67, for a total transaction of $28,023.66.
• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $11.90, for a total transaction of $11,840.50.
• On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.38, for a total transaction of $26,592.24.
• On Monday, November 24th, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.30, for a total transaction of $49,200.00.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock traded up $0.66 during midday trading on Monday, reaching $10.34. The company had a trading volume of 1,417,011 shares, compared to its average volume of 661,685. Cullinan Therapeutics, Inc. has a 12-month low of $5.68 and a 12-month high of $13.33. The company has a market capitalization of $610.85 million, a P/E ratio of -3.12 and a beta of -0.10. The firm’s fifty day simple moving average is $9.35 and its 200-day simple moving average is $8.11.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.18. On average, analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Cullinan Therapeutics in the 1st quarter valued at $34,000. SG Americas Securities LLC acquired a new position in Cullinan Therapeutics in the third quarter valued at about $62,000. Tower Research Capital LLC TRC lifted its position in Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after buying an additional 2,523 shares during the last quarter. Inscription Capital LLC acquired a new stake in shares of Cullinan Therapeutics during the third quarter valued at about $67,000. Finally, Compass Ion Advisors LLC purchased a new stake in shares of Cullinan Therapeutics in the 3rd quarter valued at approximately $82,000. 86.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CGEM shares. New Street Research set a $26.00 price target on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. HC Wainwright boosted their target price on Cullinan Therapeutics from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Wedbush increased their price target on Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Finally, BTIG Research lifted their price objective on Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Six analysts have rated the stock with 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, Cullinan Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

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.