Insider Selling: Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $26,592.24 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 2,148 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $12.38, for a total transaction of $26,592.24. Following the transaction, the insider owned 137,873 shares in the company, valued at $1,706,867.74. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 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

Shares of NASDAQ CGEM opened at $9.98 on Friday. The company has a market cap of $589.62 million, a P/E ratio of -3.02 and a beta of -0.10. The firm has a 50-day simple moving average of $9.30 and a two-hundred day simple moving average of $8.11. Cullinan Therapeutics, Inc. has a 1 year low of $5.68 and a 1 year high of $13.33.

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. As a group, equities research analysts expect that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current year.

Hedge Funds Weigh In On Cullinan Therapeutics

Large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL lifted its position in shares of Cullinan Therapeutics by 30.9% during the third quarter. Tudor Investment Corp ET AL now owns 28,988 shares of the company’s stock valued at $172,000 after buying an additional 6,850 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Cullinan Therapeutics by 289.8% during the 3rd quarter. XTX Topco Ltd now owns 167,979 shares of the company’s stock worth $996,000 after acquiring an additional 124,884 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Cullinan Therapeutics by 127.1% during the third quarter. Qube Research & Technologies Ltd now owns 152,409 shares of the company’s stock valued at $904,000 after acquiring an additional 85,290 shares during the last quarter. Prelude Capital Management LLC lifted its position in Cullinan Therapeutics by 201.2% during the third quarter. Prelude Capital Management LLC now owns 48,652 shares of the company’s stock valued at $289,000 after acquiring an additional 32,500 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Cullinan Therapeutics by 7.8% in the third quarter. Millennium Management LLC now owns 550,471 shares of the company’s stock valued at $3,264,000 after acquiring an additional 39,643 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CGEM shares. BTIG Research upped their target price on shares of Cullinan Therapeutics from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, November 24th. Zacks Research upgraded Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Wedbush upped their target price on Cullinan Therapeutics from $25.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. New Street Research set a $26.00 price target on Cullinan Therapeutics in a research report on Thursday, November 20th. Finally, Wall Street Zen upgraded Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.29.

About Cullinan Therapeutics

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.