Jennifer Michaelson Sells 2,148 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

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

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 shares were 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 $9.59 on Thursday. The firm’s 50-day moving average is $9.24 and its two-hundred day moving average is $8.10. Cullinan Therapeutics, Inc. has a 12-month low of $5.68 and a 12-month high of $13.33. The company has a market capitalization of $566.58 million, a PE ratio of -2.90 and a beta of -0.10.

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

Institutional Investors Weigh In On Cullinan Therapeutics

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

Wall Street Analyst Weigh In

A number of analysts recently commented on CGEM shares. Wall Street Zen raised Cullinan Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Wedbush boosted their price objective on shares of Cullinan Therapeutics from $25.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a research note on Monday, December 8th. HC Wainwright raised their target price on shares of Cullinan Therapeutics from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Finally, BTIG Research boosted their price target on Cullinan Therapeutics from $32.00 to $38.00 and gave the company a “buy” rating in a report on Monday, November 24th. Six investment 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’s stock. According to data from MarketBeat.com, Cullinan Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

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.