Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells $43,682.28 in Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 3,489 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.52, for a total transaction of $43,682.28. Following the completion of the transaction, the insider now directly owns 104,453 shares in the company, valued at $1,307,751.56. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, November 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $15.64, for a total transaction of $125,120.00.

Cullinan Therapeutics Price Performance

Cullinan Therapeutics stock traded up $0.05 during mid-day trading on Monday, reaching $11.80. The company had a trading volume of 375,226 shares, compared to its average volume of 644,203. The stock’s 50-day simple moving average is $14.75 and its 200-day simple moving average is $17.00. The company has a market capitalization of $687.09 million, a P/E ratio of -4.14 and a beta of -0.18. Cullinan Therapeutics, Inc. has a 1 year low of $8.02 and a 1 year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.09. On average, equities analysts forecast that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Cullinan Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CGEM. Amalgamated Bank boosted its stake in Cullinan Therapeutics by 97.3% during the 3rd quarter. Amalgamated Bank now owns 1,768 shares of the company’s stock valued at $30,000 after purchasing an additional 872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cullinan Therapeutics by 73.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock valued at $155,000 after acquiring an additional 3,758 shares during the period. Arizona State Retirement System acquired a new stake in shares of Cullinan Therapeutics during the second quarter valued at approximately $182,000. Squarepoint Ops LLC acquired a new stake in shares of Cullinan Therapeutics during the second quarter valued at approximately $186,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Cullinan Therapeutics by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,151 shares of the company’s stock valued at $187,000 after acquiring an additional 4,380 shares during the period. Institutional investors own 86.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CGEM. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, October 16th. UBS Group began coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, September 18th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $31.67.

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.