Jacquelyn Sumer Sells 3,742 Shares of Cullinan Therapeutics (NASDAQ:CGEM) Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jacquelyn Sumer sold 3,742 shares of Cullinan Therapeutics stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $13.62, for a total value of $50,966.04. Following the completion of the sale, the insider owned 131,690 shares of the company’s stock, valued at $1,793,617.80. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cullinan Therapeutics Stock Up 2.5%

Shares of CGEM stock traded up $0.34 during trading hours on Monday, hitting $13.99. 627,420 shares of the company were exchanged, compared to its average volume of 719,629. The firm has a market cap of $826.53 million, a PE ratio of -4.23 and a beta of -0.09. Cullinan Therapeutics, Inc. has a 1 year low of $5.68 and a 1 year high of $14.51. The firm has a fifty day moving average of $11.26 and a 200 day moving average of $9.17.

Institutional Investors Weigh In On Cullinan Therapeutics

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cullinan Therapeutics by 62.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,696 shares of the company’s stock valued at $28,000 after buying an additional 1,036 shares during the period. CWM LLC boosted its holdings in Cullinan Therapeutics by 51.5% in the 4th quarter. CWM LLC now owns 3,876 shares of the company’s stock worth $40,000 after acquiring an additional 1,318 shares during the period. Signaturefd LLC grew its position in Cullinan Therapeutics by 689.7% in the fourth quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock valued at $43,000 after acquiring an additional 3,607 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Cullinan Therapeutics during the third quarter valued at approximately $62,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Cullinan Therapeutics by 44.6% during 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. Institutional investors and hedge funds own 86.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CGEM shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a report on Monday, December 29th. Zacks Research lowered Cullinan Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Guggenheim assumed coverage on Cullinan Therapeutics in a report on Monday, February 2nd. They issued a “buy” rating and a $30.00 target price on the stock. HC Wainwright boosted their price target on Cullinan Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, New Street Research set a $26.00 price target on Cullinan Therapeutics in a research note on Thursday, November 20th. Eight 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 stock. According to data from MarketBeat, Cullinan Therapeutics has an average rating of “Moderate Buy” and an average target price of $29.33.

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.