Insider Selling: Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells $53,547.13 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,693 shares of the business’s stock in a transaction on 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. The trade was a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, December 12th, Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28.
• On Tuesday, November 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00.

Cullinan Therapeutics Trading Up 5.9 %

Shares of NASDAQ CGEM opened at $11.60 on Monday. Cullinan Therapeutics, Inc. has a twelve month low of $8.49 and a twelve month high of $30.19. The company has a market capitalization of $675.44 million, a price-to-earnings ratio of -4.08 and a beta of -0.18. The firm has a 50-day moving average of $14.28 and a two-hundred day moving average of $16.64.

Cullinan Therapeutics (NASDAQ:CGEM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. As a group, research analysts predict that Cullinan Therapeutics, Inc. will post -3.12 earnings per share for the current year.

Institutional Trading of Cullinan Therapeutics

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank lifted its stake in Cullinan Therapeutics by 97.3% during the third quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after buying an additional 872 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after buying an additional 3,758 shares in the last quarter. Arizona State Retirement System purchased a new stake in Cullinan Therapeutics during the second quarter valued at about $182,000. Squarepoint Ops LLC purchased a new stake in Cullinan Therapeutics during the second quarter valued at about $186,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Cullinan Therapeutics by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock valued at $187,000 after buying an additional 4,380 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CGEM shares. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. UBS Group assumed coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $30.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $31.67.

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.