Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Jennifer Michaelson Sells 4,000 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) insider Jennifer Michaelson sold 4,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $12.51, for a total transaction of $50,040.00. Following the completion of the transaction, the insider now owns 95,760 shares in the company, valued at $1,197,957.60. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 18th, Jennifer Michaelson sold 4,693 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $11.41, for a total value of $53,547.13.
• On Thursday, December 12th, Jennifer Michaelson sold 3,489 shares of Cullinan Therapeutics stock. The stock was sold at an average price of $12.52, for a total value of $43,682.28.
• 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 value of $125,120.00.

Cullinan Therapeutics Stock Performance

Shares of Cullinan Therapeutics stock opened at $11.56 on Wednesday. The company has a market capitalization of $673.12 million, a PE ratio of -4.07 and a beta of -0.14. The company has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $15.93. Cullinan Therapeutics, Inc. has a one year low of $10.00 and a one year high of $30.19.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CGEM shares. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Wedbush restated an “outperform” rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Finally, UBS Group started coverage on shares of Cullinan Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $31.67.

Hedge Funds Weigh In On Cullinan Therapeutics

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in Cullinan Therapeutics by 46.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 137,997 shares of the company’s stock worth $2,407,000 after buying an additional 43,757 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cullinan Therapeutics by 73.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,883 shares of the company’s stock worth $155,000 after acquiring an additional 3,758 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Cullinan Therapeutics by 16.4% during the second quarter. Rhumbline Advisers now owns 54,351 shares of the company’s stock worth $948,000 after acquiring an additional 7,649 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of Cullinan Therapeutics during the second quarter valued at about $182,000. Finally, American Century Companies Inc. raised its position in shares of Cullinan Therapeutics by 32.9% in the 2nd quarter. American Century Companies Inc. now owns 76,018 shares of the company’s stock valued at $1,326,000 after purchasing an additional 18,840 shares during the last quarter. 86.31% of the stock is owned by institutional investors and hedge funds.

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.