Jennifer Michaelson Sells 4,000 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $12.30, for a total value of $49,200.00. Following the completion of the transaction, the insider directly owned 138,004 shares in the company, valued at $1,697,449.20. The trade was a 2.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Cullinan Therapeutics Price Performance

Shares of Cullinan Therapeutics stock traded down $1.14 during trading on Tuesday, hitting $11.79. 2,696,411 shares of the company were exchanged, compared to its average volume of 609,894. The firm has a market capitalization of $696.51 million, a P/E ratio of -3.56 and a beta of -0.07. The firm’s fifty day moving average price is $7.47 and its 200 day moving average price is $7.69. Cullinan Therapeutics, Inc. has a 1-year low of $5.68 and a 1-year high of $13.78.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.18. As a group, equities research analysts anticipate that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Analysts Set New Price Targets

CGEM has been the subject of several research analyst reports. Zacks Research raised shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. BTIG Research boosted their target price on Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Monday. New Street Research set a $26.00 price target on Cullinan Therapeutics in a research report on Thursday, November 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Institutional Inflows and Outflows

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

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.