Cullinan Therapeutics (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 2,898 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 2,898 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $9.67, for a total value of $28,023.66. Following the transaction, the insider directly owned 133,980 shares in the company, valued at $1,295,586.60. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The stock was 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 shares were 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 Stock Performance

Shares of NASDAQ:CGEM traded down $0.30 during trading on Friday, reaching $9.68. The company had a trading volume of 1,862,750 shares, compared to its average volume of 658,545. The firm’s fifty day moving average is $9.30 and its 200 day moving average is $8.11. The firm has a market capitalization of $571.86 million, a PE ratio of -2.92 and a beta of -0.10. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $13.33.

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

Analyst Ratings Changes

Several research analysts recently weighed in on CGEM shares. Zacks Research raised Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. BTIG Research upped their price target on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a report on Monday, November 24th. New Street Research set a $26.00 price objective on shares of Cullinan Therapeutics in a research note on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Monday, December 8th. Finally, Wall Street Zen upgraded shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.29.

Hedge Funds Weigh In On Cullinan Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Cullinan Therapeutics during the 1st quarter valued at $34,000. SG Americas Securities LLC acquired a new stake in shares of Cullinan Therapeutics in the third quarter worth $62,000. Tower Research Capital LLC TRC grew its holdings in shares of Cullinan Therapeutics by 44.6% during 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 in the last quarter. Inscription Capital LLC acquired a new position in Cullinan Therapeutics during the third quarter valued at $67,000. Finally, Compass Ion Advisors LLC purchased a new stake in Cullinan Therapeutics in the 3rd quarter worth about $82,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

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.