Jennifer Michaelson Sells 30,000 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 30,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $20.26, for a total value of $607,800.00. Following the sale, the insider owned 162,844 shares of the company’s stock, valued at approximately $3,299,219.44. This represents a 15.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, July 6th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $17.82, for a total transaction of $142,560.00.

Cullinan Therapeutics Trading Up 3.6%

CGEM stock opened at $20.34 on Friday. The firm has a market cap of $1.31 billion, a PE ratio of -6.56 and a beta of 0.01. Cullinan Therapeutics, Inc. has a 1 year low of $5.68 and a 1 year high of $21.00. The company has a fifty day simple moving average of $17.05 and a 200 day simple moving average of $15.07.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its earnings results on Thursday, August 6th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.01). As a group, analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

More Cullinan Therapeutics News

Here are the key news stories impacting Cullinan Therapeutics this week:

• Positive Sentiment: Cullinan reported that a Phase 3 trial of its experimental lung-cancer drug met its primary endpoint. The result strengthens the program’s potential for regulatory approval and commercial development, making it the most significant positive driver for CGEM. Cullinan Therapeutics Says Phase 3 Trial of Experimental Lung Cancer Drug Met Primary Endpoint
• Positive Sentiment: Wedbush raised its price target to $42 from $39 and maintained an “outperform” rating, signaling greater confidence in Cullinan’s clinical and commercial outlook. The revised target implies substantial potential upside from the stock’s recent trading level. Wedbush Raises Cullinan Therapeutics Price Target
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” rating on Cullinan, indicating that sentiment remains favorable but is not uniformly bullish. Cullinan Therapeutics Receives Average Rating of Moderate Buy
• Negative Sentiment: An analyst lowered the forecast for Cullinan’s third-quarter EPS, suggesting expectations for near-term financial results have weakened. As a clinical-stage biotechnology company, CGEM remains loss-making, so changes in projected cash usage and losses can affect investor sentiment. Q3 EPS Forecast for Cullinan Therapeutics Lowered by Analyst
• Negative Sentiment: Chief executive Jennifer Michaelson sold 30,000 shares for approximately $607,800, reducing her direct ownership by 15.56%. Although she still owns a sizable position, insider selling can weigh on sentiment, particularly after a strong rally. SEC Insider Transaction Filing

Wall Street Analyst Weigh In

CGEM has been the subject of several recent research reports. BTIG Research upped their price target on Cullinan Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cullinan Therapeutics in a report on Wednesday, July 8th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Cullinan Therapeutics in a research report on Monday, June 8th. Wedbush upped their target price on Cullinan Therapeutics from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wall Street Zen cut Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Lynx1 Capital Management LP increased its stake in shares of Cullinan Therapeutics by 31.0% in the third 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 in the last quarter. BlackRock Inc. acquired a new position in Cullinan Therapeutics during the 2nd quarter worth about $95,289,000. State Street Corp lifted its position in Cullinan Therapeutics by 31.0% during the 4th 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. Affinity Asset Advisors LLC grew its holdings in Cullinan Therapeutics by 632.4% during the 4th quarter. Affinity Asset Advisors LLC now owns 1,932,106 shares of the company’s stock worth $19,997,000 after acquiring an additional 1,668,289 shares during the last quarter. Finally, Blue Owl Capital Holdings LP acquired a new stake in Cullinan Therapeutics in the 2nd quarter valued at about $28,039,000. 86.31% of the stock is owned by institutional investors and hedge funds.

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.