Cullinan Therapeutics (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 8,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $17.82, for a total value of $142,560.00. Following the completion of the transaction, the insider owned 162,844 shares of the company’s stock, valued at approximately $2,901,880.08. This represents a 4.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, May 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $14.62, for a total value of $116,960.00.

Cullinan Therapeutics Trading Up 2.0%

CGEM stock opened at $18.16 on Wednesday. The stock has a market cap of $1.12 billion, a PE ratio of -5.40 and a beta of -0.01. Cullinan Therapeutics, Inc. has a 12 month low of $5.68 and a 12 month high of $19.43. The company has a 50-day moving average price of $15.29 and a 200 day moving average price of $13.68.

Cullinan Therapeutics (NASDAQ:CGEM) last released its earnings results on Thursday, May 7th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.09. Sell-side analysts forecast that Cullinan Therapeutics, Inc. will post -3.06 EPS for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

Several large investors have recently made changes to their positions in CGEM. Affinity Asset Advisors LLC raised its holdings in Cullinan Therapeutics by 632.4% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock valued at $19,997,000 after buying an additional 1,668,289 shares during the period. Lynx1 Capital Management LP boosted its position in Cullinan Therapeutics by 31.0% in the 3rd quarter. Lynx1 Capital Management LP now owns 5,766,090 shares of the company’s stock valued at $34,193,000 after buying an additional 1,365,248 shares during the period. Boothbay Fund Management LLC acquired a new position in Cullinan Therapeutics during the 4th quarter worth $12,803,000. State Street Corp grew its position in shares of Cullinan Therapeutics by 31.0% during the fourth quarter. State Street Corp now owns 2,197,338 shares of the company’s stock worth $22,742,000 after buying an additional 520,024 shares in the last quarter. Finally, Caption Management LLC increased its position in shares of Cullinan Therapeutics by 107.0% in the 3rd quarter. Caption Management LLC now owns 28,389 shares of the company’s stock valued at $168,000 after purchasing an additional 435,062 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on CGEM shares. Wall Street Zen raised shares of Cullinan Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Friday, April 10th. BTIG Research reiterated a “buy” rating and issued a $38.00 price target on shares of Cullinan Therapeutics in a research note on Tuesday, May 19th. Wedbush reissued an “outperform” rating and issued a $37.00 price target on shares of Cullinan Therapeutics in a report on Thursday, June 11th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a research note on Monday, June 8th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.00.

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.