Cullinan Therapeutics (NASDAQ:CGEM) Insider Sells $24,510.48 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 1,752 shares of Cullinan Therapeutics stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $13.99, for a total transaction of $24,510.48. Following the completion of the transaction, the insider directly owned 180,225 shares in the company, valued at $2,521,347.75. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, February 25th, Jennifer Michaelson sold 1,780 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $14.14, for a total value of $25,169.20.
• On Tuesday, February 24th, Jennifer Michaelson sold 3,601 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $14.47, for a total value of $52,106.47.
• On Friday, February 20th, Jennifer Michaelson sold 11,742 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $14.08, for a total value of $165,327.36.
• On Thursday, February 12th, Jennifer Michaelson sold 416 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.03, for a total value of $5,004.48.
• On Thursday, January 22nd, Jennifer Michaelson sold 4,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.30, for a total value of $49,200.00.
• On Friday, December 19th, Jennifer Michaelson sold 1,345 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $10.01, for a total value of $13,463.45.
• On Thursday, December 18th, Jennifer Michaelson sold 2,898 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $9.67, for a total transaction of $28,023.66.
• On Monday, December 15th, Jennifer Michaelson sold 995 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $11.90, for a total transaction of $11,840.50.
• On Friday, December 12th, Jennifer Michaelson sold 2,148 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $12.38, for a total transaction of $26,592.24.

Cullinan Therapeutics Price Performance

CGEM stock opened at $15.50 on Friday. The stock has a market cap of $915.68 million, a price-to-earnings ratio of -4.68 and a beta of -0.09. The company has a 50 day simple moving average of $11.72 and a 200 day simple moving average of $9.41. Cullinan Therapeutics, Inc. has a 1 year low of $5.68 and a 1 year high of $16.74.

Hedge Funds Weigh In On Cullinan Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Cullinan Therapeutics in the first quarter valued at approximately $163,000. Jane Street Group LLC raised its holdings in Cullinan Therapeutics by 145.9% during the 1st quarter. Jane Street Group LLC now owns 34,396 shares of the company’s stock worth $260,000 after purchasing an additional 109,413 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Cullinan Therapeutics in the 1st quarter worth approximately $618,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Cullinan Therapeutics in the 2nd quarter valued at $84,000. Finally, Corton Capital Inc. boosted its stake in shares of Cullinan Therapeutics by 28.9% in the 2nd quarter. Corton Capital Inc. now owns 21,712 shares of the company’s stock valued at $163,000 after purchasing an additional 4,870 shares during the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CGEM shares. Guggenheim began coverage on Cullinan Therapeutics in a research report on Monday, February 2nd. They set a “buy” rating and a $30.00 price objective on the stock. New Street Research set a $26.00 target price on Cullinan Therapeutics in a research report on Thursday, November 20th. Morgan Stanley restated an “overweight” rating and set a $30.00 price target on shares of Cullinan Therapeutics in a report on Thursday, January 8th. Wall Street Zen downgraded Cullinan Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Monday, December 29th. Eight 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’s stock. Based on data from MarketBeat.com, Cullinan Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $29.33.

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.